Q1 GDP -1.0%

Of course, instead of President Pivot, they’re blaming the frigid winter of our discontent.

Frigid winter takes toll as US GDP contracts for first time in 3 years

The U.S. economy contracted in the first quarter for the first time in three years as it buckled under the weight of a severe winter, but there are signs activity has since rebounded.

The Commerce Department on Thursday revised down its growth estimate to show gross domestic product shrinking at a 1.0 annual rate.

It was the worst performance since the first quarter of 2011 and reflected a far slower pace of inventory accumulation and a bigger than previously estimated trade deficit.

“Rebounded”. yeah. Okay. O_o

3 Responses to “And BOOM”

  1. nightfly says:

    Heh. “Hide the decline” works for something other than Global Warmering.

  2. Syd B. says:

    Hey, as I get older, “Hide the decline” is becoming an art form.

  3. JeffS says:

    The winter was not that severe. Anecdotally, it appeared “normal”, if I may use that term in this context.

    But they have to blame something besides a crap administration and idiot regulatory agencies. So there you are.

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