U.S. GDP confirmed at lackluster 1.8% rate

[marmar]

By Greg Robb, MarketWatch


WASHINGTON (MarketWatch) — In the first quarter, the U.S. economy expanded at the same 1.8% clip that was initially forecast, the Commerce Department said in its second estimate of quarterly gross domestic product released Thursday.

Economists surveyed by MarketWatch had been expecting GDP growth to be revised up to 2.2% for the January-March quarter.

The economy had expanded at a 3.1% rate in the fourth quarter.

The big surprise in Thursday’s report was a downward revision to consumer spending. .............(more)

The complete piece is at: http://www.marketwatch.com/story/first-quarter-gdp-growth-remains-at-18-2011-05-26?dist=beforebell

[dkf]

1. Whoa more bad news.

Doesn't look like we've got our sea legs yet.

[uponit7771]

2. Good news, you don't want bad growth of jobs at 3.1% you want it at 1.8% and then organic growth to

...go from there.

3.1% is pretty good GDP, 1.8 means there's a way to go and jobs are in line with that

[iwishiwas]

3. Not surprising since so many new jobs are in low paying service sectors.