U.S. economy grew slowly in first quarter
URIEL SINAI/Getty Images

First quarter U.S. GDP growth came in at a very weak annualized rate of 0.1 percent, the slowest since the fourth quarter of 2012, and considerably down from the relatively decent rate of 2.6 percent seen in the fourth quarter last year.
Surveys of economists by Bloomberg were anticipating growth around 1.1 percent — slow, because of the unseasonably bad weather, but not this slow.
The slowing growth reflects downturns in exports and nonresidential investment growth, a decrease in business investment in inventories, as well as decreased government spending.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Expectations remain that the Federal Reserve will announce an additional reduction to its quantitative easing program of $10 billion tomorrow — lowering its monthly purchases to $45 billion — but weaker than expected growth figures, still-high unemployment, and below-target inflation may force the Fed to take a wait-and-see attitude to further tapering.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
John Aziz is the economics and business correspondent at TheWeek.com. He is also an associate editor at Pieria.co.uk. Previously his work has appeared on Business Insider, Zero Hedge, and Noahpinion.
-
One great cookbook: 'The Cook You Want to Be'
The Week Recommends And the way you want to eat — now
-
'We should all ask ourselves: When we laugh, who's hurting?'
Instant Opinion Opinion, comment and editorials of the day
-
IDF blames 'error' for strike on Gaza water line
Speed Read Israeli forces attack Palestinians, including children, collecting water in central Gaza
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off