U.S. economic growth slows to 0.2 percent, grinding nearly to a halt

wapo ^ | April 29, 2015 | Chico Harlan

[PROCON]

The U.S. economy ground nearly to a halt in the first three months of the year, according to government data released Wednesday morning,as exports plunged and severe winter weather sidelined construction projects and helped keep consumers indoors .

The gross domestic product grew between January and March at an annualized rate of 0.2 percent, the U.S. Commerce Department said, adding to the picture of an economy braking sharply after accelerating for much of last year. The pace fell well shy of the 1 percent mark anticipated by analysts and marked the weakest quarter in a year.

The economy had expanded at a rate of 2.2 percent in the final three months of 2014 and at a rate of 2.4 percent for the year.

[catfish1957]

If it comes from the feds, then it is a lie.....

Bears repeating!!!!

[servantboy777]

If it comes from the feds, then it is a lie.....

Bears repeating!!!!

Again and again and again.

[DHerion]

And that number is based on a 1% inflation number. If inflation is 3%, the economy contracted.

[ItsOurTimeNow]

>>severe winter weather sidelined construction projects and helped keep consumers indoors.<<

I don’t understand this. I still needed to buy groceries, fuel, clothes, etc - all the normal stuff. Still drove to work every day, still bought lunch. I still paid my bills. I still had to travel for business. I still purchased items I needed for spring and summer projects.

While consumers may be hampered for a day or two by some severe weather, it’s not 3 full months worth, and it’s not nation-wide. This is bullshit excuse manufacturing.