US economy expanded at weakest pace in 3 years (Thanks Trump!)

[workinclasszero]

US economy expanded at weakest pace in 3 years
by MARTIN CRUTSINGER, AP Economics Writer

WASHINGTON (AP) —

The U.S. economy turned in the weakest performance in three years in the January-March quarter as consumers sharply slowed their spending. The result fell far short of President Donald Trump's ambitious growth targets and underscores the challenges of accelerating economic expansion.

The gross domestic product, the total output of goods and services, grew by just 0.7 percent in the first quarter following a gain of 2.1 percent in the fourth quarter, the Commerce Department reported Friday.

The slowdown primarily reflected slower consumer spending, which grew at a seasonally adjusted annual rate of 0.3 percent after a growth rate of 3.5 percent in the fourth quarter. It was the poorest quarterly showing in more than seven years.

http://wjla.com/news/nation-world/us-economy-expanded-at-weakest-pace-in-3-years

[kentuck]

1. It has been reported that it is rather common for first quarters to show low growth...

But, if the second quarter shows similar weakness, there will be a degree of panic in the markets, I would think?

[workinclasszero]

2. Is that what the republicans and Fox said when Obama was president?

Didn't think so.

[kentuck]

3. I don't know.

I heard it on CNN or MSNBC.

[workinclasszero]

4. Of course those dumb bastards got him elected because...ratings

Now he hates their guts as they scramble around trying to normalize his foolhardy, blindly ignorant, fascist, anti american regime for access and crumbs from his damn table!

[Vogon_Glory]

5. I think the economy was heading for a downturn even before the election

I think the economy was heading for a downturn even before the election, so Hillary would have been blamed if enough swing-state voters had stayed sane.

I suspect that somebody is likely to find himself in a downturn in 2018 and will be out there nekkid when the voters discover that his "tax cuts for billionaires" policies don't bring on the jubilee.