Monday May 25, 2020

US economy contracts for first time since 2011

The US economy contracted between January and March, for the first time since 2011, new figures from Washington have shown.

29th May, 2014
The US economy is expected to grow at a rate of 3.5% in the next quarter, according to a Bloomberg survey of economists

The US economy contracted between January and March, for the first time since 2011, new figures from Washington have shown.

Gross domestic product fell at a 1 per cent rate in the first quarter, a larger decline than had been predicted. The figures come following an earlier reported 0.1 per cent gain by the Commerce Department.

Quickened job growth and strong manufacturing figures indicate that the contraction will be temporary, with Federal Reserve policy makers saying at their...

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