"The strength of the second quarter rebound will determine the timing
of interest rate hikes, analysts
said Friday following the
widely-expected release of GDP numbers that showed the U.S. economy
shrank during the first quarter.
That’s assuming the economy rebounds in the second quarter.
The government on Friday slashed its gross domestic product – or the total value of all goods and services produced in the U.S. -- estimate to show it contracted at a 0.7% annual rate rather than growing at a 0.2% rate as was estimated last month.
Consumers also spent less than previously believed despite lower gas prices that put more money in consumers’ pockets. Consumer spending accounts for about 70% of the U.S. economy.
Consumers also spent less than previously believed despite lower gas prices that put more money in consumers’ pockets. Consumer spending accounts for about 70% of the U.S. economy."
FOX Business
That’s assuming the economy rebounds in the second quarter.
The government on Friday slashed its gross domestic product – or the total value of all goods and services produced in the U.S. -- estimate to show it contracted at a 0.7% annual rate rather than growing at a 0.2% rate as was estimated last month.
Consumers also spent less than previously believed despite lower gas prices that put more money in consumers’ pockets. Consumer spending accounts for about 70% of the U.S. economy.
Consumers also spent less than previously believed despite lower gas prices that put more money in consumers’ pockets. Consumer spending accounts for about 70% of the U.S. economy."
FOX Business
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