First-quarter growth stronger than forecast

A buildup in inventories kept the economy afloat in the first quarter despite the weakest consumer spending since 2001 and the biggest drop in home building in more than 26 years, a government report showed on Wednesday.

The Commerce Department said gross domestic product or GDP expanded at a 0.6 percent annual rate in the first quarter, matching the fourth quarter's advance and handily topping a forecast for 0.2 percent growth in an advance poll ... Full Story »

Posted by Dale Penn
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Subjects: U.S., Business
Topics: U.S. Economy
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Posted by: Posted by Dale Penn - Apr 30, 2008 - 8:48 AM PDT
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Douglas Hord
4.2
by Douglas Hord - Oct. 1, 2008

On the whole, this article provides a lot of the bigger picture which shows that there is likely deep trouble apart from the growth in GDP. The article inexplicably fails to address that this administration has been going back, 12 to 18 months AFTER announcing such economic performance numbers and "revising" them to something far poorer than the initial reports would suggest. That information is readily available, and specific instances of the amount of adjustment, and the actual trends based on revised numbers could have made this article great.

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Dale Penn
3.9
by Dale Penn - Oct. 1, 2008

Provides decent analysis that goes beyond other reports I've read.

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Louise Auerhahn
3.3
by Louise Auerhahn - Oct. 1, 2008

Provides useful background, but analysis could be stronger. In particular, the article mentions only one of the two factors driving GDP growth last quarter, unsold inventories; it neglects the 4.6% rise in federal government spending, driven by a 6% rise in defense spending, which also contributed significantly to keeping GDP positive.

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  • Inventories and War Spending Keep Economy Growing in First Quarter Pending

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    Posted by Louise Auerhahn