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Economic Growth Stalls

First quarter GDP report sends mixed signals.

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U.S. economic growth slowed in the first quarter on the heels of Ben Bernanke’s announcement Thursday. The latest GDP report revealed that The GDP expanded at a 2.2 percent annual rate, according to the Commerce Department, disappointing economists’ expectations for a 2.5 percent rate. Though the economy has been growing at a snail’s pace since the second half of 2009, the report sent mixed signals: businesses cut back on investments and unemployment rates are soaring, but a surge in consumer spending softened those blow. Stocks saw their best day in 2012 Thursday, and the Fed decided not to continue efforts to spur growth for now.

Read it at Reuters

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