Economy Barely Grew In Q1

The Commerce Department said the U.S. economy barely grew in the first quarter of 2017, expanding at an annual rate of only 0.7 percent.

New York Times: “The first-quarter performance upset expectations for a Trump bump at the start of 2017. The economy’s weakness reflected new caution among consumers. Other sectors like housing and business investment turned in a stronger showing, but not enough to offset factors like weaker retail sales.”

Associated Press: “The slowdown primarily reflected slower consumer spending, which grew by just 0.3 percent. That was the poorest showing in more than seven years.”