rssGDP Growth Slows in 2nd Quarter
Friday, July 30, 2010 at 9:30 am
- 7 Comments
This morning, the Commerce Department said that the U.S. economy expanded at a 2.4 percent annual rate in the second quarter — about what economists expected. That rate is down from a 3.7 percent annual rate in the first quarter
Nonresidential fixed investment drove growth, increasing at a 17 percent annual pace, up from a 7.8 percent annual pace in the first quarter. Businesses increased their purchases of equipment and software spending by 21.9 percent. Consumer spending, which makes up about 60 percent of the economy, grew at only a 1.6 percent annual pace — worryingly slow. That is a sign that unemployment, underemployment and concern about the weak recovery are keeping consumers from opening their wallets; it is also a cause and an effect of the lagging recovery.
Follow Annie Lowrey on Twitter
7 Comments
Pingback posted July 30, 2010 @ 11:17 am
[...] full post on The Washington Independent advertising Share and [...]
Pingback posted July 30, 2010 @ 12:21 pm
[...] Read more here « Michael Rowe: Why Anne Rice Has Never Been More of a Christian Stotsky on the Common Core Vote in MA » [...]
Trackback posted July 30, 2010 @ 3:16 pm
GDP Growth Slows in 2nd Quarter « The Washington Independent…
I found your entry interesting do I’ve added a Trackback to it on my weblog :)…
Pingback posted July 30, 2010 @ 7:27 pm
[...] GDP Growth Slows in 2nd Quarter « The Washington Independent [...]
Pingback posted July 31, 2010 @ 3:22 am
[...] GDP Growth Slows іח 2nd Quarter « Tһе Washington Independent [...]
Pingback posted August 1, 2010 @ 3:29 pm
[...] originally reported, consumer spending was revised lower.” The Washington Independent’sAnnie Lowrey says the consistently sluggish return in consumer spending “is a sign that unemployment, [...]
Trackback posted November 16, 2010 @ 1:38 am
Another Title…
I saw this really great post today….
RSS feed for comments on this post.
Sorry, the comment form is closed at this time.
