Zander
Platinum Member
Obama ass sniffers are celebratory!! 1st Qtr GDP revised to NEGATIVE 1%...
5.5 years of Obama =5.5 years of Malaise.
Stock Markets, Business News, Financials, Earnings - CNBC
he U.S. economy contracted in the first quarter for the first time in three years as it buckled under the weight of a severe winter, but there are signs activity has since rebounded.
The Commerce Department on Thursday revised down its growth estimate to show gross domestic product shrinking at a 1.0 annual rate.
It was the worst performance since the first quarter of 2011 and reflected a far slower pace of inventory accumulation and a bigger than previously estimated trade deficit.
Read More Pending home sales up just 0.4% in April
The government had previously estimated GDP growth expanding at a 0.1 percent rate. It is not unusual for the government to make sharp revisions to GDP numbers as it does not have complete data when it makes its initial estimates.
5.5 years of Obama =5.5 years of Malaise.