Growth Too Fragile to Gamble with Austerity

U.S. economic growth rebounded to 2.5 percent in the first quarter of 2013, according to data released by the Bureau of Economic Analysis this morning.

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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