May 31, 2007
GDP grows, but slowly
By Matthew L. Brown
According to the U.S. Department of Commerce, the nation's economy as measured by gross domestic product grew at a 0.6 percent annualized pace during the first quarter.
The department had estimated the economy to grow at a 1.3 percent pace during the quarter. The 0.6 percent growth is the slowest since 2002.
Consumers led the economic growth during the quarter, the department said, and showed gains in spending and income.
The department had estimated the economy to grow at a 1.3 percent pace during the quarter. The 0.6 percent growth is the slowest since 2002.
Consumers led the economic growth during the quarter, the department said, and showed gains in spending and income.
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