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 @ISIDEWITHNewsDaily DiscussionInflationlaborMarketRoseHomeeconomic growthGDPMortgage rates•••1wk ago

U.S. Economic Growth Slows

U.S. economic growth slowed in the first part of the year, falling short of economists’ expectations.

Gross domestic product expanded at a 1.6% seasonally- and inflation-adjusted annual rate in the first quarter, the Commerce Department said Thursday, a pullback from the previous period.

Growth in the first quarter lagged behind the 2.4% projected by economists.

Low-income Americans are saving far less than they did prepandemic. Mortgage rates recently bounced back above 7%, leading home sales in March to post their biggest monthly drop in more than a year. Average hourly earnings in March rose at their slowest annual pace since June 2021.

Many economists still believe that those cracks will widen—slowing inflation—if and when the labor market loosens.

10 Replies

 @ISIDEWITHasked…1wk1W

How would you personally feel if your family's savings were significantly lower now than before the pandemic?

 @ISIDEWITHasked…1wk1W

Do you believe a loosening labor market with potentially easier job access but lower wages is beneficial or harmful to workers, and why?

 @ISIDEWITHasked…1wk1W

How do you think a slowdown in economic growth could affect your job opportunities or career plans after graduation?

 @ISIDEWITHasked…1wk1W

Discuss your thoughts on how slower wage growth might impact your or your family's daily life.

 @ISIDEWITHasked…1wk1W

If you were planning to buy a home in the future, how does the idea of mortgage rates above 7% affect your plans or feelings?

 @PollsterRelishLibertarianfrom Arizona commented…1wk1W

Biden's massive spending bills have put money in the hands of consumers and kept the economy going. But the inflation is has caused along with massive increases in regulation have kept business and manufacturing from growing. Biden is destroying the engine of growth while massively increasing US debt.

 @EagerP0liticRepublican from Tennessee commented…1wk1W

Nothing Biden does will eliminate the nearly 22 percent inflation tax he's imposed on the middle class and blue collar workers since 2021. Biden is a hypocrite as he seeks to eliminate Trump's tax cuts at the same time his inflation tax is eating away at pay checks. His call to raise taxes and continue his inflation tax will decimate the hard-working middle class.

 @MonkeyBobbyMountainfrom Massachusetts commented…1wk1W

Slowing economic growth, stubbornly high inflation. It sounds like I will be having a side of stagflation with my coffee this morning.

 @PleasedM1norityLibertarian from Wisconsin commented…1wk1W

Will there ever be a story which does not have the caveat "thus surprising economists" or a similar phrase? If they are always surprised, why do we listen to them in the first place?

 @SenateJackrabbitTranshumanist from Michigan commented…1wk1W

Anemic 1 to 2% annual GDP growth from 2009 through 2016 never reached 3%.

Lackluster economic growth has never been as bad in eight years since 1947, when the Federal Bureau of Economic Analysis started tracking GDP.

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