Connect With PPD
Follow Us:
Economy

Final 1Q GDP Reading: U.S. Economy Expands by a Pitiful 1.1%

File photo: Shipping cranes and containers at a U.S. port representing exports and imports factored in overall gross domestic product, or GDP. (Photo: REUTERS)

The Commerce Department said Tuesday its final reading on first-quarter gross domestic product (GDP) came in at a meager 1.1%, up slightly from previous estimates. The upward revision showed the U.S. economy grew at slightly more than the previously reported reading of 0.8%, and follows a meager growth rate of 1.4% in the fourth quarter.

Economists polled by Reuters had expected first-quarter GDP growth in the world’s largest economy would be revised up to a 1.0% rate. Despite repeated revisions to the methodology to calculate GDP, which is an effort by the government to paint a rosier economic picture, the economy has underperformed in the first quarter in five of the last six years. In fact, President Barack Obama is on track to become the weakest GDP president in modern history.

READ FULL STORY

SubscribeSign In
PPD Business Staff

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Share
Published by
PPD Business Staff

Recent Posts

Media’s Worst Russian Collusion Sins May Soon Be Repeated

The most damning journalistic sin committed by the media during the era of Russia collusion…

9 months ago

Study: Mask-Mandates and Use Not Associated With Lower Covid-19 Case Growth

The first ecological study finds mask mandates were not effective at slowing the spread of…

3 years ago

Barnes and Baris on Big Tech’s Arbitrary Social Media Bans

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…

3 years ago

Barnes and Baris on Why America First Stands With Israel

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…

3 years ago

Personal Income Fell Significantly in February, Consumer Spending Weaker than Expected

Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…

3 years ago

Study: Infection, Vaccination Protects Against Covid-19 Variants

Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…

3 years ago

This website uses cookies.