WELCOME TO THE OBAMA ECONOMIC RECOVERY …
The U.S. economy ground nearly to a halt in the first three months of the year, according to government data released Wednesday morning, as exports plunged and severe winter weather helped keep consumers indoors.
The gross domestic product grew between January and March at an annualized rate of 0.2 percent, the U.S. Commerce Department said, adding to the picture of an economy braking sharply after accelerating for much of last year. The pace fell well shy of the 1 percent mark anticipated by analysts and marked the weakest quarter in a year.
The economy had expanded at a rate of 2.2 percent in the final three months of 2014 and at a rate of 2.4 percent for the year.
Forbes - U.S. GDP Gained A Sluggish 0.2% In First Quarter 2015, Its like Deja vu all over again.
If you were feeling a bit of déjà vu Wednesday morning look no further than the latest reading of U.S. economic growth for the cause. Like the initial estimate of first quarter 2014 GDP, the first reading says the economy grew in Q1 2015 — but very, very, very slowly.
On Wednesday, the Bureau of Economic Analysis released its advance estimate of real gross domestic product for the first quarter of this year— covering January, February and March. The release showed output in the U.S. increasing at a rate of 0.2%. This is a huge deceleration from the fourth quarter 2014 when real GDP gained 2.2%. Economists on average were anticipating growth of 1% in Q1.
Last year the GDP reading was ultimately revised to negative 2.1% then economic growth rebounded sharply in the second (4.6%) and third (5%) quarters.