Growth Too Fragile to Gamble with Austerity
U.S. economic growth rebounded to 2.5% in the first quarter of 2013, according to data released by the Bureau of Economic Analysis this morning.
The nation’s gross domestic product, or GDP — the sum total of goods and services produced by workers and capital in the United States — showed some acceleration over the 0.4% rate in the last quarter of 2012. One percentage point of this growth, or 40% of the first-quarter expansion, however, resulted from the rebuilding of inventories depleted over previous quarters.
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This article was originally published in MarketWatch.
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