Posted on 04/29/2015 8:11:57 AM PDT by Signalman
WASHINGTON—The U.S. economy slowed to a crawl at the start of the year as businesses slashed investment, exports tumbled and consumers showed signs of caution, marking a return to the uneven growth that has been a hallmark of the nearly six-year economic expansion.
Gross domestic product, the broadest measure of goods and services produced across the economy, expanded at a 0.2% seasonally adjusted annual rate in the first quarter, the Commerce Department said Wednesday. The economy advanced at a 2.2% pace in the fourth quarter and 5% in the third.
Economists surveyed by The Wall Street Journal had expected growth of 1% in the first three months of this year, though many were braced for a surprise to the downside.
(Excerpt) Read more at wsj.com ...
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