News
Economic Growth Stalled in First Quarter
The American economy grew at a 0.2% rate in the first quarter, falling shy of already tempered expectations and confirming a ream of recent mixed data. It was the worst growth rate in a year, when the economy contracted by 2.1% thanks in part to harsh winter weather. While economists had expected a lackluster report, the rate still lagged a consensus prediction of 1% growth. Still, optimism abounds that activity will rebound with another cold, snowy winter now in the past. Analysts are especially hopeful that consumer activity will pick up. That indicator has unexpectedly lagged despite Americans' saving money at the gas pump.
