US GDP unexpectedly contracted at a 1.4% annualized rate in Q1

Yahoo ^ | 04/28/2022 | Emily McCormick

[Houserino]

Scroll back up to restore default view. Yahoo Finance US GDP unexpectedly contracted at a 1.4% annualized rate in Q1 Emily McCormick Emily McCormick·Reporter Thu, April 28, 2022, 8:31 AM·3 min read In this article:

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U.S. economic activity unexpectedly contracted in the first three months of 2022 with lingering supply chain constraints, inflation, and disruptions amid Russia's war in Ukraine weighing on growth.

The Bureau of Economic Analysis (BEA) released its initial estimate of first-quarter U.S. gross domestic product (GDP) Thursday at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus data compiled by Bloomberg:

GDP annualized, quarter-over-quarter: -1.4% vs. 1.0% expected, 6.9% in Q4

[Alberta's Child]

I don’t see a housing crash in the near future. Ironically, high inflation rates will help prop up the real estate market because the cost of renting is escalating, too.

[cranked]

-1.4%

[Sgt_Schultze]

GDP INCLUDES government spending. FEDGOV has slowed spending (as have locals and states) on Covid. I wonder what the actual economy looked like without the heavy wallet of government.

[phormer phrog phlyer]

It is also transitory. They will say.

[jmaroneps37]

“unexpectedly” that’s rich!