US GDP growth figures falls short of predictions, raises tensions for economic recovery


Crews load and unload consumer products at the Port of New Orleans along the Mississippi River in New Orleans, Louisiana

 

Economic growth in US got back into some speed lately in the first quarter, but it was not as expected. This elevated tensions as an already weakening economy is showing positive signals to cope-up with deep government spending cuts and higher taxes.

US GDP growth figures falls short of predictions, raises tensions for economic recovery2-global-annal

The Gross domestic product figures expanded at a 2.5 percent annual rate, said the Commerce Department on Friday. The growth indices almost stalled at 0.4 percent in the fourth quarter of last financial year. However, the economists were expecting a 3.0 percent growth rate this quarter.

“It wasn’t the bang-up start to the year we had hoped for, and the signals from March suggested that we will only decelerate from here,” said Avery Shenfeld, Chief Economist at CIBC World Markets Economics in Toronto.

Source: Reuters, NY Times, LA Times, WSJ

Published by Bhavesh Kumar

A multi-talented professional with diverse experience spanning across Advanced statistical analysis,Python programming with NumPy, pandas, matplotlib, Seaborn, Tableau, Machine Learning with stats models and scikit-learn, Deep learning with TensorFlow, journalism (digital and broadcast), management consultancy and documentary filmmaking. Worked for the leading international news agencies on feature stories, videography, scripting, programming and editing broadcast news. A creative and analytical mindset focused on executing new-age strategic communication initiatives with all its corresponding elements (clear and coherently written key messages, marketing strategy and predictive analytics) to ensure effective target audience impressions. Also, worked on several primary and secondary market research projects (Market Feasibility Study) for businesses looking for actionable insights.

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