According
to the government data released Wednesday by The Commerce Department,
U.S. economy didn't make any progress during the first months of
year. The failing to the modest growth target brings up people's
concern about the recovery of economy again.
Government
expected 1.2 percent growth for nation's gross domestic product but
it turned out to be merely 0.1 percent growth rate, which really
disappointed people.
Althought
Paul Ashworth, chief U.S. economist at Capital Economics, said "This
is not a weak economy. This is an economy that had two bad months
because of the weather and got back to normal in March." I don't
really trust what he said. In my opinion, the economy is still
sluggish and especially the job market is not as good as we expect.
As temperatures remain low in the mid-west it will be interesting to see if they affect our agriculture production come fall.
ReplyDeleteThe economy will go up and has been whether its really slow or fast. Its just a matter of time because in 2008 we hit rock bottom or were really close and it will bounce back but it can always fall right back down again.
ReplyDelete