Economy

US Economy Shrinks 1% in First Quarteri
X
Mil Arcega
May 29, 2014 9:48 PM
A harsh winter appears to have battered the U.S. economy more than first thought. The Commerce Department says the economy actually shrank a full percent in the first three months of the year - worse than initial estimates that showed the economy grew, but just barely, by one tenth of one percent between January and March. The latest estimate of gross domestic output marks the first contraction in three years. But as Mil Arcega reports, analysts are confident the slowdown is temporary.

US Economy Shrinks 1% in First Quarter

Published May 29, 2014

A harsh winter appears to have battered the U.S. economy more than first thought. The Commerce Department says the economy actually shrank a full percent in the first three months of the year - worse than initial estimates that showed the economy grew, but just barely, by one tenth of one percent between January and March. The latest estimate of gross domestic output marks the first contraction in three years. But as Mil Arcega reports, analysts are confident the slowdown is temporary.


You May Like

Lion Cecil's Killing Sparks 'Canned Hunting' Debate in S. Africa

Conservationists believe incident, which triggered worldwide outrage, will reshape debate about practice in which hunters are allowed to target animals bred for hunting More

Taliban's New Leader Says Jihad Will Continue

Top US Afghan diplomat also meets with Pakistani, Afghan officials following news of Mullah Omar's death More

Environmentalists Issue Warning on Mekong Biodiversity

Scientists say decades of economic development, hydropower-dam construction, lax law enforcement and trafficking have taken their toll More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one