Thursday, May 31, 2007
By Steven L. Taylor

Via the AP: Economy has worst growth since 2002

The economy nearly stalled in the first quarter with growth slowing to a pace of just 0.6 percent. That was the worst three-month showing in over four years.

The new reading on the gross domestic product, released by the Commerce Department Thursday, showed that economic growth in the January-through-March quarter was much weaker. Government statisticians slashed by more than half their first estimate of a 1.3 percent growth rate for the quarter.

Not good.

Here are the some projections for 2Q:

Many economists believe the first quarter will be the low point for this year. They expect growth will improve but still be sluggish.

The National Association for Business Economics predicts the economy will expand at a 2.3 percent pace in the April-to-June quarter.

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One Response to “Economy Stagnant in 1Q”

  1. Jay Says:

    If it’s any indication of where the economy is headed, I’ve noticed that prices at Wal-Mart have skyrocketed. Not sure if that’s management (the new CEO has Target envy and doesn’t understand why Wal-Mart exists), fuel prices, other factors, or some combination. It’s interesting to note that the number of things I can get at the same or lower prices at my local supermarket seems to be increasing.

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