US economy slows to mere 0.1% growth in first quarter (Yet, GOP still refuses to pass a jobs bill)

[LuckyTheDog]

The US economy ground almost to a halt in the first three months of the year amid severe winter weather, official data showed Wednesday.

Gross domestic product increased at an annual rate of 0.1 percent after hitting a 2.6 percent pace in the 2013 fourth quarter, the Commerce Department said.

It was the slowest growth since the last quarter in 2012. The slowdown was much sharper than expected, with most analysts having forecast a 1.0 percent pace.

Driving the slump were falling exports and business investment and a larger decrease in inventory investment.

MORE HERE: http://wonkynewsnerd.com/us-economy-slows-to-mere-0-1-growth/

[CountAllVotes]

1. Having interest rates pinned at zero % ...

This is having a tremendous effect on the economy whether the pigs on Wall Street care to admit it or not.

The reality is that a lot of people don't play the market and have little money left to spend being they no longer receive something called dividends on their savings accounts.

There is no reason to have a saving acct. at less than 1% interest if lucky.

However, no one cares to see the reality of this.

An economy cannot grow unless all members of said economic structure are included as they too have a piece of the pie.

When will the White House face this reality?

Answer: No time soon as its feeding time for the pigs on Wall Street still ...

[sabbat hunter]

2. Most of the slow growth

in 1Q is attributed to the cold and snowy winter most of the country had in Jan, Feb, March.

The April ADP payroll figures show a 200k+ increase. That is a very good sign.

I would not be surprised to later see the 1Q GDP numbers adjusted upwards when they come out with the final numbers.

That being said we still need a bill that has a large, long term infrastructure spending (60-70 billion would be a good start), which would create jobs, boost the economy.

We have crumbling roadways, bridges, tunnels that are in desperate need of repair and upgrading.