I am currently trying for pole dancing. I haven’t found a pole to do the pole dance on. So I did it on a table. It’s great. But this isn’t the pole dance I’ve been planning to do for the past two years.
The US economy grew by 0.4 percent last month, slowing for a second straight month after recovering from its worst downturn since 2007, as workers turned in weaker-than-expected earnings and consumer spending remained firm.
Gross domestic product expanded at a 2.1 percent annualized pace, the Commerce Department said on Wednesday. Economists polled by Reuters had expected the economy grew at a 1.9 percent rate in the final quarter of 2012. The economy has grown at an annual pace of 2.4 percent annually since last summer.
Separately, the US consumer added a seasonally adjusted 5.6 million jobs last month, the Labor Department said on Wednesday, the biggest jump in employment since early 2009.
The figures indicate a modest but still solid pace of expansion in the first year out of the Great Recession before the start of the current recession a year ago, as the economy strengthens by more than many economists had estimated.
The economy is seen expanding at an average rate of 2.7 percent this year and 2.8 percent in both 2013 and 2014. But the numbers are expected to disappoint some policymakers since much of the recent upturn has benefited the wealthiest households. Those households have spent much more than previously thought in search of a better standard of living.
US GDP growth, in line with the expectations of analysts, has been boosted by a strengthening US dollar and robust US export activity.
US factory output rose at the fastest pace since June, spurred by a rebound from a fall in the price of oil late last year. Manufacturing production rose by a revised 0.6 percent, the largest increase since April.
Consumer spending increased in March at a 2.0 percent annualized pace, with spending in housing and automobiles up at a 2.9 percent rate, the most since February 2009. The rise, while not a massive jump, was up significantly from the 0.8 percent expansion in February. Spending in food stores and other services also ticked higher.
While the job market was strong, a number of new jobs were eliminated in the third quarter, leading to a fall in employment compared with the third quarter of 2008.
A stronger dollar, an increase in imports from China and the threat
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