Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Economy Slumps to 4-Year Low

Weak home sales, high oil prices drive slowdown

By J. Kelman, Newser User

Posted Apr 27, 2007 11:11 AM CDT

(Newser) – The country's economic growth has dwindled to its lowest rate in four years, with the housing slowdown, high energy prices, and a looming trade deficit driving lower-than-expected numbers released today. The economy grew 1.3% in the first quarter of 2007, down from 2.5%... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Japanese Artist Serves Up Own Cooked Genitals

Bloomberg (Source Grid »)

inflation • economic growth • Federal Reserve • United States • money • trade deficit • US economy • Department of Commerce

More Newser Stories

Inflation Eases, Trade Deficit Narrows

New data is mostly positive, and unlikely to influence interest rates

(NEWSER) - With the exception of energy and food, inflation at the wholesale level rose less than expected last month, while the US trade deficit got slimmer, thanks to an increase in exports. Still, a rise in energy costs in July led to an unexpected .06% uptick in the producer price index after the rate fell 0.2% in June. More»

Jobless Rate Rises While GDP Rebounds

Economic growth balances looming threat of inflation

(NEWSER) - The unemployment rate increased slightly in the second quarter, but the GDP recovered after a lackluster first quarter, providing Wall Street with a mixed report card of the nation’s economy as the Fed meets to determine interest rates. Unemployment ticked up 0.1% to 4.6%, hastened by losses in manufacturing, construction, and government, the WSJ reports. More»

Bernanke: US Must Save More, Asia Spend More

Fed chief warns global imbalances could trigger new meltdown

(NEWSER) - The world economy is headed back down the drain if Asians don't start spending more and Americans don't start saving more, Ben Bernanke said at a conference yesterday. The Fed chief warned that unequal trade patterns were partly to blame for the financial crisis and that they are re-emerging as Asia leads the global recovery, reports the Los Angeles Times. More»

Wait on Rate Hikes Until Crisis Eases

Fed should ignore critics, hold its ground until markets rebound

(NEWSER) - Critics claim the Federal Reserve has been too eager to cut interest rates, and that lax policy has exacerbated inflation. But the Fed should hold its ground, Desmond Lachman argues in the American, until the housing and credit markets are clearly on the rebound. The credit crunch has prompted banks to compensate with higher spreads and tighter lending standards, which should offset inflationary concerns. More»

Oil Drops; Stocks Follow

Gray day on Street ahead of Fed's policy meeting

(NEWSER) - Stocks closed down today, giving back gains from an early rally despite a nearly $4 drop in crude oil prices as worries about economic growth and inflation persisted, the Wall Street Journal reports. The Dow fell 42.17 to close at 11,284.15, the Nasdaq lost 25.40 and finished at 2,285.56, and the S&P 500 shed 11.29 points to settle at 1,249.02. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Economy Slumps to 4-Year Low

Weak home sales, high oil prices drive slowdown

inflation • economic growth • Federal Reserve • United States • money • trade deficit • US economy • Department of Commerce

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Inflation Eases, Trade Deficit Narrows

New data is mostly positive, and unlikely to influence interest rates

Jobless Rate Rises While GDP Rebounds

Economic growth balances looming threat of inflation

Bernanke: US Must Save More, Asia Spend More

Fed chief warns global imbalances could trigger new meltdown

Wait on Rate Hikes Until Crisis Eases

Fed should ignore critics, hold its ground until markets rebound

Oil Drops; Stocks Follow

Gray day on Street ahead of Fed's policy meeting

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?