WASHINGTON — U.S. economic growth accelerated to an annual rate of 2.5 percent from January through March, buoyed by the strongest consumer spending in more than two years. Government spending fell, though, and tax increases and federal budget cuts could slow growth later this year.
The Commerce Department said Friday that the economy rebounded from an anemic 0.4 percent annual growth rate in the October-December quarter. Much of the gain reflected a jump in consumer spending, which rose at an annual rate of 3.2 percent. That was the biggest such jump since the end of 2010.
i'm confused at our statistics monthly, they release report good or bad then a month later they say its been revised mot of the time up three times the original estimate.
should they just wait and release the final figure? if they are throwing a bone to one way or the other it's misleading and with the right wing speak "uncertainty" if would seem those lower est would creat just that, causing either false sense of security or insecurity.
Growth was also helped by businesses, which responded to the greater demand by rebuilding their stockpiles. And home construction rose further.But government spending fell at a 4.1 percent annual rate, led by another deep cut in defense spending. The decline kept last quarter’s increase in economic growth below expectations of a 3 percent rate or more.Many economists say they think growth as measured by the gross domestic product is slowing in the April-June quarter to an annual rate of just 2 percent. Most foresee growth remaining around that subpar level for the rest of the year.
are we dealing with too many chefs in the kitchen all with their own idea which leaves us with pot luck for our economic barometer?
