WASHINGTON (MarketWatch) - The U.S. economy expanded at a 1.8% annual rate in the first quarter, the same growth rate as estimated a month ago, the Commerce Department reported Thursday. The first quarter growth rate was much weaker than expected. Economists were predicting a revision to a 2.2% rate. The major surprise was a downward estimate to consumer spending, to a 2.2% annual rate from the initial estimate of a 2.7% rate. Offsetting this weakness was an expected faster pace of inventory accumulation. The core personal consumption expenditure price index rose a revised 1.4%, compared with the initial estimate of a 1.5% gain. In its first estimate, the government said Q1 corporate profits before tax increased $113.8 billion or 6.3% to $1.91 trillion. http://www.marketwatch.com/story/q1-gdp-up-unrevised-18-well-below-expectations-2011-05-26 You don´t worry. QE III will rescue everyBODY.
We'll be in a double dip recession soon enough; or there wasn't a recovery at all, whatever your opinion.
Saw this number this morning and thought well at least its 1.8% because without the bailouts and free trillions this GDP number right now would be somewhere around............. oh negative 2% or 5% so I guess this number is a solid number even though it was created with smoke and mirrors!!! Im getting ready for QE3 which will return the markets to 2007 highs, create even higher commodity prices, push even more worthless dollars into a worthless economy and create even greater asset bubbles because Bubble ben bernanke knows exactly how to handle this crisis hahahaha!!!!
Futures really holding up well after the GDP miss and weekly job numbers. I guess many more people now are anticipating QE3!