CORALVILLE COURIER EDITOR'S NOTE: This is terrible number and a reflection of Obama Administration policies. They flat out don't work. And note that instead of focusing on job creation, intellectually lazy Democrats want to distract you with calls for raising the minimum wage. What good is that to people who don't have jobs? A humming economy with ample job opportunities trumps a pay hike for a small segment of the workforce every time.
Gross domestic product, the broadest measure of goods and services produced across the economy, advanced at a seasonally adjusted annual rate of 0.1% in the first quarter, the Commerce Department said Wednesday. Economists surveyed by The Wall Street Journal had forecast growth at a 1.1% pace for the quarter.
The broad slowdown to start the year halted what had been improving economic momentum during much of 2013. In the second half of last year, the economy expanded at a 3.4% pace. The first-quarter reading fell far below even the lackluster average annual gain of near 2% since the recession ended.