| Topic: |
Politics > Politics-USA |
| User: |
"Harry Hope" |
| Date: |
31 May 2007 02:04:12 PM |
| Object: |
Economic growth skids to a near halt |
From The Associated Press, 5/31/07:
http://news.yahoo.com/s/ap/20070531/ap_on_bi_go_ec_fi/economy
Economic growth skids to a near halt
By JEANNINE AVERSA, AP Economics Writer
WASHINGTON -
Economic growth skidded to a near halt in the first quarter, with the
worst showing in more than four years raising concerns about how long
the country's sluggish spell will last.
The Commerce Department reported Thursday that gross domestic product
increased by just a 0.6 percent pace in the January-through-March
period, much weaker than estimated a month ago.
Government statisticians slashed by more than half their first
estimate of a 1.3 percent growth rate for the quarter.
The main forces behind the downgrade: the bloated trade deficit and
businesses cutting investment in supplies of the goods they hold in
inventories.
__________________________________________________
Harry
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| User: "zeez" |
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| Title: Re: Economic growth skids to a near halt |
31 May 2007 03:04:27 PM |
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On May 31, 12:04 pm, Harry Hope <riv...@ix.netcom.com> wrote:
From The Associated Press, 5/31/07:http://news.yahoo.com/s/ap/20070531/ap=
_on_bi_go_ec_fi/economy
Economic growth skids to a near halt
By JEANNINE AVERSA, AP Economics Writer
WASHINGTON -
Economic growth skidded to a near halt in the first quarter, with the
worst showing in more than four years raising concerns about how long
the country's sluggish spell will last.
The Commerce Department reported Thursday that gross domestic product
increased by just a 0.6 percent pace in the January-through-March
period, much weaker than estimated a month ago.
Government statisticians slashed by more than half their first
estimate of a 1.3 percent growth rate for the quarter.
The main forces behind the downgrade: the bloated trade deficit and
businesses cutting investment in supplies of the goods they hold in
inventories.
When all we have is mostly =A2ervice jobs, and we are not producing
many consumer durable goods
anymore, this is the kind of crap we can expect. I wonder how many
haircuts it takes to trade for a
car or a living room set? Of course, the orthodox capitalists among us
will swarm on this post like
flies on $hit, but those who can actualy see reality for how it is
knows that this country has really
screwed itself by gutting it's manufacturing base.
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