U.S. economy collapses in first quarter, but growing again

Reuters ^ | June 25, 2014 | by Lucia Mutikani

[Oldeconomybuyer]

(Reuters) - The U.S. economy contracted at a much steeper pace in the first quarter than previously estimated, turning in one of its worst-ever non-recession performances, but growth already appears to have rebounded strongly.

The economy was held back by an unusually cold winter, the expiration of long-term unemployment benefits and cuts to food stamps, which curbed consumer spending. It was also weighed down by a slowdown in the pace of restocking by businesses.

All these temporary factors have since faded, lifting growth early in the second quarter.

[familyop]

LOL! Oil and fuel are still up and skyrocketing, and it's the end of June. Gun control, fire bans, legalized pot, pot detection ready for DUI vehicle stops, more planning and building regulations, regulations against wood stoves, cameras focused on visitors in the wilderness and all NIMBY eyes on non-locals and ready to report!

[denydenydeny]

...an unusually cold winter

It snowed! Yeah, that's the ticket!

This is exactly what North Korea does when it's explaining the latest famine.

[Gene Eric]

Drunk falls on face. Gets up.