- Joined
- Jan 2, 2006
- Messages
- 28,174
- Reaction score
- 14,270
- Location
- Boca
- Gender
- Male
- Political Leaning
- Independent
The U.S. economy slowed in the first quarter as consumer spending grew at its weakest pace in nearly five years, but the setback is likely temporary against the backdrop of a tightening labor market and large fiscal stimulus.
Gross domestic product increased at a 2.3 percent annual rate, the Commerce Department said in its snapshot of first-quarter GDP on Friday, also held back by a moderation in business spending on equipment and investment in home building.
The rest of the article can be found here.
Crowding out?