http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B31B26C89%2D4FDB%2D4AFF%2DBB72%2DF5A8A0FA5FAB%7D&siteid=mktw
ECONOMIC REPORT
GDP revised lower to 0.6% in first quarter
Corporate profits growing at slowest pace in five years
By Rex Nutting, MarketWatch
WASHINGTON (MarketWatch) --
The U.S. economy slowed to a crawl in the first quarter, held back by
falling investments in homes, shrinking inventories and a large trade
gap, the Commerce Department reported Thursday.
The economy grew at a 0.6% annualized pace in the quarter, revised
down from the initial estimate of 1.3%, the government said in its
second estimate of quarterly gross domestic product.
It was the slowest growth since late 2002.
_____________________________________________________
Harry
.
|
