Obamanomics EPIC FAIL … GDP 2.2% for 1st Qtr
President Barack Obama and Obamanomics … EPIC FAIL … GDP 2.2%.
U.S. economic growth cooled in the first quarter as businesses cut back on investment and restocked shelves at a moderate pace, but stronger demand for automobiles softened the blow.
Gross domestic product expanded at a 2.2 percent annual rate, the Commerce Department said on Friday in its advance estimate, moderating from the fourth quarter’s 3 percent rate.
While that was below economists’ expectations for a 2.5 percent pace, a surge in consumer spending took some of the sting from the report. However, growth was still stronger than analysts’ predictions early in the quarter for an expansion below 1.5 percent.
Posted April 27, 2012 by Scared Monkeys
Barack Obama, Economy, GDP, Obamanation, Obamanomics | one comment
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One Response to “Obamanomics EPIC FAIL … GDP 2.2% for 1st Qtr”
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If we wait a little bit, the actual numbers may be revised. I don’t believe these. One percent may be more accurate.