U.S. Economic Growth Revised Down to 3.1% in Q1
U.S. economic growth at the start of 2019 was slightly slower than originally reported but remained robust despite President Donald Trump's extended government shutdown, according to new data released Thursday.
GDP growth in the January-March quarter was revised to 3.1 percent, one tenth lower than reported last month, as American companies spent less on equipment and software but exports rose and consumers bought more cars than previously thought, according to the Commerce Department.
But the data showed a sharp drop in corporate profits, which took their biggest quarterly tumble in more than three years.
31 May 2019, 18:26
00
Usually, financial reporting gives quarterly growth reports in annualized rates, as in "economy grew by an annual rate of X in the first quarter". AFP doesn't tell you this is the annualized rate, so you must assume the number was absolute growth for the quarter. If that growth continued for the year the US economy would grow by 12%. I wonder what happened to my comment that you are responding to. What is an "Ali"?
