Mexican Media Brands
U.S. Economy May Have Grown Only 0.7% in First Quarter
Real gross domestic product in the U.S. expanded by an annualized 0.7% in the first quarter of 2017 compared with 2.1% growth in the final quarter of 2016, the government’s Bureau of Economic Analysis reports.
#economics
Share
Real gross domestic product in the U.S. expanded by an annualized 0.7% in the first quarter of 2017 compared with 2.1% growth in the final quarter of 2016, the government’s Bureau of Economic Analysis reports.
But BEA cautions that its flash estimate is based on early and incomplete data and will be updated on May 26. Many economists predict second-quarter growth will rebound to 3%-4%, The Wall Street Journal notes. The U.S. economy has expanded by roughly 2% per year since 2010.
The first-quarter slowdown reflects softer growth in consumer spending and downturns in government spending at the state and local level, according to BEA. It says those factors muted first-quarter increases in exports, home buying and business fixed investments.
RELATED CONTENT
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.