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U.S. Economy Expands at Slowest Pace in Three Years

Friday, April 28, 2017 | Tag Cloud Tags: , ,

(Worthy News) - The U.S. economy expanded at the slowest pace in three years as weak auto sales and lower home-heating bills dragged down consumer spending, offsetting a pickup in investment led by housing and oil drilling.

Gross domestic product, the value of all goods and services produced, rose at a 0.7 percent annualized rate after advancing

2.1 percent in the prior quarter, Commerce Department data showed Friday in Washington. The median forecast of economists surveyed by Bloomberg called for a 1 percent gain. Consumer spending, the biggest part of the economy, rose 0.3 percent, the worst performance since 2009. [ Source ]

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Worthy Christian News » US News » U.S. Economy Expands at Slowest Pace in Three Years