Friday September 18, 2020

US economy contracts 2.9% in Q1

The US economy contracted by 2.9 per cent in the first quarter of 2014, the most since the worst periods of the last recession.

25th June, 2014
On Wall Street, stocks declined after the release of the figures from Washington

The US economy contracted by 2.9 per cent in the first quarter of 2014, the most since the worst periods of the last recession.

The drop was significantly more than a previously reported 1 per cent, the Commerce Department in Washington said today.

Economists surveyed by Bloomberg had projected a 1.8 per cent drop in the first quarter GDP.

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

This product does not auto-renew

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 8 months ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 4 years ago