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Invisibledaussaulit
Forgetful

Registered: 08/06/02
Posts: 2,894
Loc: Earth
Economy Grows at Slowest Pace in Two Years
    #4106445 - 04/28/05 12:20 PM (12 years, 4 months ago)

http://biz.yahoo.com/ap/050428/economy.html?.v=17]http://biz.yahoo.com/ap/050428/economy.html?.v=17
Quote:

Buffeted by rising energy prices and weakened consumer and business spending, the economy grew at an annual rate of just 3.1 percent in the first quarter. The slowest pace of expansion since in two years was evidence of a new "soft patch."

The latest reading on gross domestic product, released by the Commerce Department on Thursday, showed that consumers and businesses turned cautious in their spending in the January-to-March quarter, a key factor in the slower economic growth. High energy prices and rising borrowing costs are causing Americans to tighten their belts a bit.

The first-quarter's GDP figure, down from a 3.8 percent pace logged in the final quarter of 2004, represents the economy's most sluggish showing since the first quarter of 2003, when economic activity expanded at an even more mediocre 1.9 percent rate.

GDP, the broadest barometer of the economy's health, measures the value of all goods and services produced within the United States.

On Wall Street, stocks slumped. The Dow Jones industrials were down 54 points and the Nasdaq was off 10 points in morning trading.

In second report Thursday, the number of new people signing up for unemployment benefits rose last week as businesses coped with rising costs. New claims rose by 21,000 to 320,000, the Labor Department said.

The newest snapshot of the economy disappointed economists. Before the report's release, they were forecasting a 3.5 percent growth rate for the first quarter.

That estimate marked a downgrade from just a few weeks ago when economists were predicting that business growth would clock in at a pace of 4 percent or better in the first quarter. But they scrambled to lower those forecasts in the wake of a spate of disappointing economic reports in recent weeks.

Those disappointing reports -- including retail sales, industrial production and big-ticket orders to factories -- along with Thursday's GDP figure, add to evidence that the economy hit a "soft patch." That's the term Federal Reserve Chairman Alan Greenspan used last spring when economic growth slowed abruptly.

Economists also are lowering their estimates for growth in the current April-to-June quarter -- to around a 3 percent rate -- or possibly less.

....




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OfflineSaladin
Follower of theTruth

Registered: 06/30/04
Posts: 68
Last seen: 11 years, 7 months
Re: Economy Grows at Slowest Pace in Two Years [Re: daussaulit]
    #4107703 - 04/28/05 06:21 PM (12 years, 4 months ago)

The decline and fall of the American empire.  :thumbup:


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Allahu Akbar

Free Hasan Akbar!

Viva La France!


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InvisibleSilversoul
Rhizome
Male User Gallery

Registered: 01/01/05
Posts: 23,576
Loc: The Barricades
Re: Economy Grows at Slowest Pace in Two Years [Re: Saladin]
    #4107724 - 04/28/05 06:26 PM (12 years, 4 months ago)

Quote:

Saladin said:
The decline and fall of the American empire.  :thumbup:



Thoughtless knee-jerk response. :thumbup:


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OfflineSaladin
Follower of theTruth

Registered: 06/30/04
Posts: 68
Last seen: 11 years, 7 months
Re: Economy Grows at Slowest Pace in Two Years [Re: Silversoul]
    #4107741 - 04/28/05 06:30 PM (12 years, 4 months ago)

Do you deny the american empire is falling? Surley it cant stand forever? americans rely on foreign oil, foreign products, foreign immigrants, and they even import doctors from places like india. The only thing america makes is movies. Of course its economy is slowing.


--------------------
Allahu Akbar

Free Hasan Akbar!

Viva La France!


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InvisibleSilversoul
Rhizome
Male User Gallery

Registered: 01/01/05
Posts: 23,576
Loc: The Barricades
Re: Economy Grows at Slowest Pace in Two Years [Re: Saladin]
    #4107773 - 04/28/05 06:36 PM (12 years, 4 months ago)

To say that this is a sure sign of the end is mindless speculation. We've had worse times before.


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Invisibleafoaf
CEO DBK?
 User Gallery

Registered: 11/08/02
Posts: 32,665
Loc: Ripple's Heart
Re: Economy Grows at Slowest Pace in Two Years [Re: Silversoul]
    #4107921 - 04/28/05 07:14 PM (12 years, 4 months ago)

gayfight!


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All I know is The Growery is a place where losers who get banned here go.


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Offlinezappaisgod
horrid asshole

Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 1 year, 3 months
Re: Economy Grows at Slowest Pace in Two Years [Re: afoaf]
    #4108095 - 04/28/05 07:49 PM (12 years, 4 months ago)

Ignore the troll.

Please. Headline news>After 2 years of record growth the economy is slowing to only 3.1% growth< What the fuck is up with Yahoo news? In another thread they said prison population soared in 2004 when it went up by like 1.5% to the, get this, same level as in 2002, when it must have plummeted. Might want to relax over this latest "disaster".


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InvisibleLe_Canard
The Duk Abides

Registered: 05/17/03
Posts: 94,392
Loc: Earthfarm 1 Flag
Re: Economy Grows at Slowest Pace in Two Years [Re: zappaisgod]
    #4108129 - 04/28/05 07:56 PM (12 years, 4 months ago)

I agree - it's way overblown. 3.1% growth really isn't that bad....


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Offlinezappaisgod
horrid asshole

Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 1 year, 3 months
Re: Economy Grows at Slowest Pace in Two Years [Re: Le_Canard]
    #4108470 - 04/28/05 09:22 PM (12 years, 4 months ago)

It is, in fact, not bad at all.


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