The U.S. economy shrank at a 1.6% annual pace in the first three months of the year, the government reported Wednesday in a slight downgrade from its previous estimate for January-March quarter.
The U.S. economy shrank at a 1.6% annual pace in the first three months of the year, the government reported Wednesday
For the full year, the economy is still expected to turn in respectable growth: 2.5%, according to the World Bank That was partly offset by a revision to its calculation of business inventories. Commerce said that reduced restocking of company shelves had shaved less than 0.4 percentage points from first-quarter growth, down from the 1.1 percentage point hit it estimated in May.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Artist with autism wins award, scores first solo exhibitLance Bannister, a 21-year-old artist with autism, just scored his very own art exhibit!
Read more »
2021 Wimbledon runner-up Matteo Berrettini drops out hours before first-round match with COVID-19Last year's Wimbledon runner-up Matteo Berrettini has pulled out of the grass-court Grand Slam tournament after testing positive for COVID-19.
Read more »
LIV Golf receiving pushback in Oregon ahead of first tournament in USSaudi Arabia-backed LIV Golf is getting a chilly reception in Oregon, its first stop in the United States.
Read more »
Abortion Takes Central Focus in First Post-Roe PrimariesThe GOP is holding primaries for congressional seats in states like Colorado, where Democrats hope to criticize their counterparts for their stance on abortion.
Read more »
5 observations from BYU football’s first depth chart of the 2022 seasonThe summer depth chart gives an early window into the coaching staff’s thinking going into fall camp, where August practices will be more a crash course in getting prepared for Week 1 and less about players asserting themselves for individual spots.
Read more »