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Source: www.foxbusiness.com...
US economy shrank 1.4% at beginning of 2022, marking worst quarter in 2 years.
Economists expected the economy to expand by 1.1%, a marked slowdown from 2021.
Source:
The country's economic activity for the first quarter of this year, known as its Gross Domestic Product, declined at an annualized rate at 1.4%, the Commerce Department said Thursday.
The report, issued by the agency's Bureau of Economic Analysis, attributed the decline in large part to the spike in COVID-19 cases as a result of the emergence late last year of the virus' Omicron variant.
"In the first quarter, an increase in COVID-19 cases related to the Omicron variant resulted in continued restrictions and disruptions in the operations of establishments in some parts of the country," the bureau said.
Dem-run states used COVID-19 relief to push CRT in schools; Plan to block Musk Twitter buy shot down
The post-Covid U.S. Economic Recovery Seems to Have Ended Quickly. Q1-2022.
originally posted by: olaru12
I don't see evidence of that where I live. Construction booming, new businesses opening up everywhere, Starting pay at record levels and jobs everywhere. No masks or other covid restrictions. And everyone is sick of the sound of this incessant whine. Lead, follow or GTF out of the way.
"Huge miss on GDP this morning, but just looking at headlines is misleading," said Cliff Hodge, chief investment officer for Cornerstone Wealth. "We’d rate the report neutral overall. Trade, inventories and government spending all dragged, but the consumer held up and business investment was strong."
originally posted by: AgarthaSeed
a reply to: carewemust
The Biden commerce people must've missed:
-Rampant inflation from insane amounts of government overspending.
-sanctioning Russia over a conflict we have absolutely nothing to do with outside of virtue signaling.
-putting a big chunk of the country on extended welfare ( pandemic unemployment benefits ) for nearly 2 years, then being surprised they don't have the discipline to return to work.
-allowing mega corporations to buy up massive amounts of farmland and single family homes across the U.S. with zero government regulation
-the Fed announcing they're raising interest rates.
Yeah...but Covid. The device that they used to their benefit to push the world towards more centralized control. It's almost like this was....planned.
originally posted by: carewemust
TIME TO IMPEACH THE MAN AT THE TOP.
originally posted by: network dude