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mahatmakanejeeves

(57,446 posts) Thu Apr 28, 2016, 08:48 AM Apr 2016

U.S. economy slows, with GDP growing 0.5% in first quarter

Source: Washington Post

U.S. economy slows, with GDP growing 0.5% in first quarter

By Chico Harlan

April 28 at 8:36 AM

The U.S. economy slowed between the months of January and March, with the gross domestic product expanding at a paltry 0.5 percent pace.

That roughly matched the expectations of economists, who said the economy was hitting the brakes from the steady but unspectacular pace maintained over the last nine months.

The GDP grew at a 1.4 percent pace in the last quarter of 2015.

Thursday’s data, released by the Commerce Department, is just a preliminary reading and will be revised twice more over the coming months.

Read more: https://www.washingtonpost.com/news/wonk/wp/2016/04/28/u-s-to-release-data-showing-gdp-growth-for-first-quarter/

8 replies

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U.S. economy slows, with GDP growing 0.5% in first quarter (Original Post) mahatmakanejeeves Apr 2016 OP

That is not good at all in an election year n/t doc03 Apr 2016 #1

I'm not an economist TexasBushwhacker Apr 2016 #2

"Do we still need to grow?" mahatmakanejeeves Apr 2016 #3

Wages grow when more people are working. Calista241 Apr 2016 #4

Couldn't have anything to do with the severe weather from January to March could it? 4lbs Apr 2016 #5

U.S. economy expanding. GDP growth 0.5% in first quarter ffr Apr 2016 #6

Sorry, you are incorrect philosslayer Apr 2016 #7

"The U.S. economy slowed between the months of January and March,..." ffr Apr 2016 #8

doc03

(35,337 posts)

1. That is not good at all in an election year n/t

Reply to mahatmakanejeeves (Original post)

Thu Apr 28, 2016, 08:55 AM

Apr 2016

TexasBushwhacker

(20,190 posts)

2. I'm not an economist

Reply to mahatmakanejeeves (Original post)

Thu Apr 28, 2016, 10:07 AM

Apr 2016

I realize that economic growth can mean more jobs. But it doesn't have any relationship to income inequality. It can mean more use of shrinking natural resources, pollution, habitat encroachment, etc. We're at the top of the pyramid in the world. Do we still need to grow?

Even with all our "growth" we still have 15% living in poverty. What good is growth if income equality is growing as well. At some point we should be shooting for a steady state economy and if you ask me, the sooner the better.

mahatmakanejeeves

(57,446 posts)

3. "Do we still need to grow?"

Reply to TexasBushwhacker (Reply #2)

Thu Apr 28, 2016, 10:11 AM

Apr 2016

U.S. and World Population Clock

Components of Population Change

One birth every 8 seconds
One death every 12 seconds
One international migrant (net) every 28 seconds
Net gain of one person every 13 seconds

Calista241

(5,586 posts)

4. Wages grow when more people are working.

Reply to TexasBushwhacker (Reply #2)

Thu Apr 28, 2016, 10:16 AM

Apr 2016

Companies are likely to delay hiring or implement layoffs of they can't forecast revenue growth in the coming 1-5 years.

Low GDP growth is an unmitigated disaster for jobs, wages, number of people in poverty, virtually any metric you can think of.

This couldn't come at a worse time for democrats. A spluttering or contracting economy will only make Donald Trump have a greater appeal to the elecorate.

4lbs

(6,855 posts)

5. Couldn't have anything to do with the severe weather from January to March could it?

Reply to mahatmakanejeeves (Original post)

Thu Apr 28, 2016, 02:32 PM

Apr 2016

January 19, 2016
"Series of Arctic Blasts Grip Central and Eastern States"

https://weather.com/forecast/regional/news/colder-january-weather-pattern-central-east-states

February 3, 2016
"Tornadoes, Flash Flooding Impacted South, East to Start February"

https://weather.com/storms/severe/news/february1-3-severe-weather-flood-forecast-groundhog-day-2016

February 23, 2016
"Outbreak of More Than 61 Tornadoes, Damaging Winds Rip Through South, East Coast"

https://weather.com/storms/severe/news/severe-weather-tornado-outbreak-south-feb23-24-20

March 18, 2016
"Over 26 inches of Rain Triggers Record Flooding in the South"

https://weather.com/storms/severe/news/historic-south-flooding-march-20

ffr

(22,670 posts)

6. U.S. economy expanding. GDP growth 0.5% in first quarter

Reply to mahatmakanejeeves (Original post)

Thu Apr 28, 2016, 02:33 PM

Apr 2016

Fixed.

Growth is growth. 0.5% in a quarter means 2% annually, which is a healthy expansion. Especially when you consider that Mitch McConnell is doing everything in his power to thwart the U.S. economy and bring this country to her knees, with help from GOP Republicans and Republican supporters.

philosslayer

(3,076 posts)

7. Sorry, you are incorrect

Reply to ffr (Reply #6)

Thu Apr 28, 2016, 03:26 PM

Apr 2016

0.5% is the annualized rate

http://www.bloomberg.com/news/articles/2016-04-28/u-s-economy-grew-in-first-quarter-at-slowest-pace-in-two-years

ffr

(22,670 posts)

8. "The U.S. economy slowed between the months of January and March,..."

Reply to philosslayer (Reply #7)

Thu Apr 28, 2016, 07:24 PM

Apr 2016

Which was what I was going on. Sorry.

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