Economy Grows !
By 186 on Apr 30, 2008
First-quarter growth stronger than forecast | Reuters
The economy grew at a slightly stronger pace than forecast as 2008 began, helped by inventory-building that tempered a steadily deteriorating housing sector and less vigorous consumer spending.
The U.S. economy expanded at a 0.6 percent annual pace in the first quarter, reflecting an increase in inventories as consumers retrenched and companies cut investment
The AP and Financial Times not happy as Newsbusters points out.
Economy grows at only 0.6 percentage point rate - Yahoo! News
The bruised economy limped through the first quarter of this year at a six-tenths of a percentage point growth rate as housing and credit problems forced people and businesses alike to hunker down.
FT.com / World - US economy avoids outright contraction
The US economy almost stalled in the first three months of this year, saved only by an increase in business inventories, as the labour market weakened, the real estate market slumped and consumers cut back on spending.
So let me get this straight, the media has almost gleefully been reporting we are in the grips of a recession but the economy actually expands?
AFP.com | Agence France-Presse, a global news agency
The US economy expanded at a sluggish 0.6 percent annual pace in the first quarter, the government said Wednesday in its first estimate of gross domestic product.The Commerce Department report was slightly better than expected and came amid fears that the world’s biggest economy might be headed for recession, generally defined as two consecutive quarters of declining activity.
