US Economy Expands 1.4% in the Q1

3년 전

Consumers spending and trade rose more than previously estimated in the U.S. in the first quarter (Q1) of the year.

According to the Commerce Department report, the US economy expanded at 1.4 percent in the first quarter, revised up from 1.2 percent. This is largely due to the surge in consumer spending and trade.

Consumer spending rose 1.1 percent, up from 0.6 percent. While exports climbed 7 percent, also revised from 5.8 percent.

While the report was positive from previous estimates, the report remains weak and represent the slowest consumer spending since 2013.

However, analysts remain optimistic and project the economy will grow at a 3 percent rate in the second quarter of the year, mainly due to growing wages and salaries.

But the slowdown in equipment orders and shipments reported earlier in June could hurt business investment.

Unemployment benefits rose by 2,000 to 244,000 as the labour market near full employment.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  trending

Congratulations @theanalyst! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of comments

Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

The economy needs a bit of Steem to power it up some more. Follow @BlockRush to receive Blockchain news.


Hehe.. @BlockRush sending one its way.