U.S. Economy Stalls with just 0.2% Growth in Q1
(Worthy News)– U.S. economic growth braked more sharply than expected in the first quarter as harsh weather dampened consumer spending and energy companies struggling with low prices slashed spending, CNBC reported.
Gross domestic product expanded at an only 0.2 percent annual rate, the Commerce Department said on Wednesday. That was a big step down from the fourth quarter’s 2.2 percent pace and marked the weakest reading in a year.
A strong dollar and a now-resolved labor dispute at normally busy West Coast ports also slammed growth, the government said. –[wp_colorbox_media url=”http://www.cnbc.com/id/102630190″ type=”iframe” hyperlink=”Source”]
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