U.S. Growth Slows to 2.2%, Report Says - NYTimes.com - 0 views
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Shoko Kuroda on 31 May 12GDP, Growth Domestic product is in the section of macro economics
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It was the first deceleration in a year, but it was not nearly as severe as other setbacks in the last couple of years.
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the private sector is continuing to heal from the financial crisis,” said Alan Krueger, chairman of the president’s Council of Economic Advisers.
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Economists initially predicted a much weaker showing in the latest quarter, partly because of a large accumulation of inventories in the fall and winter that needed to be worked off. But in the last few weeks, expectations rose on strong jobs reports and rising consumer confidence.
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in construction related to mining, oil and gas, while manufacturers actually increased their spending on factories and office buildings.
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another significant slowdown, saying that last year’s hiccup was the result of a series of external shocks, like a spike in gas prices (this year’s was less severe and is already subsiding) and the Japanese earthquake.
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Stagnation in Europe and a slowing of China’s breakneck expansion have weakened global demand even as corporate profits have continued to outpace expectations.