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Indiaexportnews.com

US GDP fell 2.9pc in first quarter

  01.07.2014    

The United States economy fell 2.9 per in the first quarter, the worse performance in five years, according to the US Department of Commerce.
Bad winter weather has been blamed for disrupting much business in the first three months of the year, but the government report showed other factors were at play.
The end unemployment benefits after Congress did not extend them left many with less money to spend. Areas of weakness included exports, business inventories, and health care spending.
American GDP increased 2.6 per cent during the previous quarter, the last fourth quarter of 2013.



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