Q1 2013 US Economic
Earlier, the government had estimated that its economic output advanced by 2.4 percent in the January-to-March period. But on Wednesday, the Commerce Department said that consumers spent less than previously estimated and that both imports and exports fell early in the year. Government spending throughout the country also dropped.
latest report on the state of the American economy, the world's largest,
is a reflection of the nation's uncertain recovery from the depths of
the recession more than four years ago. The U.S. jobless rate has
declined to 7.6 percent, but remains high by historical standards. At
the same time, corporations have amassed cash reserves and key stock
indexes remain near record levels.