Economic vibe check: Growth dips, but are we in recession territory?
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Data captured between January 1 and March 31 showed US economic growth contracting for the first time in three years, but are we in a recession?
Gross domestic product, which measures all the goods and services produced in the economy, fell in the first three months of the year at an annualized rate of 0.3% — a much sharper decline than most economists predicted. It’s also a stark decline from the quarter before, when the economy expanded by 2.4%.
Also within that time, consumer spending growth — the primary engine of the US economy — fell to a rate of 1.8%, down considerably from 4% in the prior three-month period.
Check out the rest of senior business writer Allison Morrow’s “vibe check” on the economy.
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Today’s PM Plug-In was produced by CNN’s Morgan Severson and Daniel Wine.
Progettista elettrico Esperto in Logiche di Automazione di impianti di Produzione Energia Elettrica
4moFlaunting decision-making power in economics and finance causes failures and losses.
Education in ICT, Info Tech and Management Consultant at TIM TECHNOLOGY SERVICES LIMITED and an Author.
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Chief Executive Officer @ Ontogeny Technology | Software Development, Innovation
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