Economic Growth Plummets to 0.1%
Weaker-than-predicted figure blamed on weather
By Newser Editors and Wire Services
Posted Apr 30, 2014 9:03 AM CDT
In this April 15, 2014 photo, a man wires blender motors at a facility in Strongsville, Ohio. The GDP's growth rate slowed to 0.1% in the first quarter.   (AP Photo/Mark Duncan)

(Newser) – The US economy slowed drastically in the first three months of the year as a harsh winter exacted a toll on business activity. The sharp slowdown, while worse than expected, is likely to be temporary as growth rebounds with warmer weather. The economy's growth slowed to a barely discernible 0.1% annual rate in the January-March quarter, the Commerce Department said today. That's the weakest pace since the end of 2012 and is down from a 2.6% growth rate in the October-December quarter. Economists had been predicting a 1.1% rise. Meanwhile, consumer spending grew at a 3% rate, but the gain was dominated by a 4.4% rise in spending on services, reflecting higher utility bills.

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Showing 3 of 84 comments
TheJman
May 1, 2014 9:10 PM CDT
Thanks Obama.
JERZJOE
May 1, 2014 6:37 AM CDT
ALL I WANT TO SEE IS THE VOTERS WHO PLUMMENT THE DUMOCRATS CAUSE... that's when the DUMOCRATS LOSE & the REP WIN BIG on NOV 4, 2014 & NOV 8, 2016 &.... 1-GROW the economy & create good-paying AMERICAN jobs!! 2-GET to repeal OBAMACARE & replace it with reforms that truly LOWER COSTS!!! 3-BALANCE the budget IN 10 YEARS,reduce debt & ease TAXES in the middle-class!! 4-PROTECT social security & medicare for current & future retirees!!! 5-STRENGTHEN the military, honor our vets & restore RESPECT FOR AMERICA!!! 6-FIGHT for our individual freedoms & defend the CONSTITUTION!! 7-Then in Nov. 08, 2016 Gov. Christie will be prez!!!! and everything will be AOK in the USA on Jan 20, 2017!! P.S. and the interns will get a paycheck too!! THERE YA GO!!
Chuck Roast
Apr 30, 2014 8:22 PM CDT
Ha Ha you suckers elected him! Bottom line the economy still sucks for most people, the "?" administration hasn't done anything but print more money to prop up the failing economy....lol