WASHINGTON (MarketWatch) — The U.S. economy slowed markedly in the first quarter and inflation accelerated, clear evidence of the double whammy on the economy from higher gasoline prices.And this:Initial Jobless claims jump in latest week. Unexpectedly Rises to 429,000
In its first estimate Thursday, the Commerce Department said gross domestic product rose at a 1.8% annual rate between January and March, slower than the 3.1% pace in the prior three months.
Economists polled by MarketWatch had expected a slightly weaker 1.7% growth rate. They blamed the slowdown on weather disruptions and higher gasoline prices, as well as a drop in defense spending. See our economic calendar with forecasts of major indicators.
Thursday, April 28, 2011
Obamanomics on parade.
Posted by traderrob at 6:42 AM