​US GDP Disappoints Forecasts

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US GDP Disappoints Forecasts The United States showed a sluggish pace during the first quarter, growing only by 0.5 percent from last quarter's 1.4 percent. Economists were expecting at least a 0.7 percent rise, Weak exports due to the a strong US dollar contributed to the slack, as well as federal government spending and private inventory investment, which plummeted by 5.9 percent. Personal consumption expanded by 1.9 percent and core personal consumption by 2.1 percent. Wages were also lifted by 2.3 percent year-on-year. This is only the government's first data revision out of three total revisions before the final numbers are out.