Gross domestic product rose at a 0.8 percent annualized rate in the three months ended in March, the smallest gain in a year, Commerce Department figures showed Friday. That compares with the 0.5 percent advance the government reported last month.

The figures do little to alter views of the third consecutive sluggish start to the year, and could portend a tougher slog in the second quarter as businesses work to continue to pare stockpiles. At the same time, household income gains were stronger than previously reported as the labor market strengthened, which will help support consumer spending.

“It’s still a very poor start to the year,” Ryan Sweet, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania, said before the report. “From past experience we get most of that back in the second quarter.”

Income Gains

After-tax personal income adjusted for inflation climbed at a 4 percent annualized rate in the first quarter, revised up from a prior estimate of 2.9 percent. The saving rate was also pushed up to 5.7 percent, the highest since the fourth quarter of 2012, from 5.2 percent.

Total income in the economy, which combines all forms of earnings, increased at a 2.2 percent annualized rate, the most since the fourth quarter of 2014.


http://www.msn.com/en-us/money/markets/the-economy-grew-more-last-quarter-than-previously-estimated/ar-BBtylz2?li=BBnbfcN

Doesn't sound like much to crow about.

Citizens of the word like wvit don't know much so it doesn't take much to get them to crow!

Wage increases sound pretty good to me. 

All they do is increase inflation for those on a fixed income.  That doesn't sound good to me.

what inflation?  if there were inflation you're fixed income would get a raise wouldn't it?

wvit,
 
Do you realize the US Economy is growing at a slower rate than Europe?

Not for "creeping inflation"  I.E. inflation that does not get adjusted for unless goes up a minimum amount.  10 years of .5% inflation accumulates to 5.0% and none of it gets adjusted for.

but increasing interest rates on your investments would make up for the creeping inflation.

It will raise prices so that those wage increases would be a wash.  You can't fight the laws of nature.

wvit,

The Market is essentially flat with rates on CD and passbook accounts under 1%. So your dictator's economy is a bust at best...where investments are concerned. Unless you have a better lie to tell?

I wouldn't put my money in the bank in savings accounts or in CD's right now, the interest rates are practically zero.  but if you'd had that money in the market for the past 8 years you'd have more than doubled it.

wvit,

What caused the Market to double...was it real economic growth or the $10 trillion in funny money dictator obama and the federal reserve pumped into the market?

funny money?  you mean that money and growth wasn't real?

one of the government's jobs is to prop up the economy during times of economic troubles until the private industry can stabilize itself.

if it wasn't for that "funny money" as you call it, our country would have descended into a huge depression.  Is that the option you would really want faxy?

wvit,

I don't believe that would have happened. The better way would have been for the Government to get the hell out of the way and let Americans keep a bigger percent of their take home pay...thus letting them invest in the economy at the consumer level. Growing the Government is the exact opposite of what was needed after your dems caused the economy to collapse in 2008.

You make it sound as if there is no welfare class.  They don't have "investments".  Damn few of the middle working class have "investments".

Obama hasn't grown the government faxy.  and before you start cutting taxes again how about the republicans in Congress cutting spending. 

What interest bearing investment instruments exceed 2%?  You're lucky to break the 1% barrier.  To beat 2%, you have to put your money at risk.

wow...finally...wvit gets something right...yes, Congress should have cut spending...but your dims in the senate and dictator obama will never approve? would they wvit?

Damn few of the middle working class have "investments".

And if they did and were near or in retirement, they would be nuts to invest significantly in the stock market.

Chuck, I think you should turn down any raises you are offered, if you are still working. If you are retired, by your thought process, you should have turned down every raise ever offered to you.

If raises are offered, they are offered for good economic reason, not because they are mandated by fiat.  They are not turned down.  They are deserved.

53% of Americans have equity investments.  That's a percentage of the total number of Americans.  So clearly a lot more people are investing than just the "one percent."

Also people who have mutual funds, IRAs and 401K accounts.

But Chuck, they only cause inflation. Isn't that your claim? Shouldn't you do your part and turn down raises? I don't, but if you are the fiscal conservative you claim to be, and as principled as you claim, then perhaps you should.

Raises that are offered for good economic reason do not cause inflation.  Increased productivity offsets the increased wage.  Productivity is not increasing enough to support increased wages.  Forcing wages higher creates economic hazard.

Tsk tsk tsk... so raises are only bad when someone else gets them.

If all you think about is yourself getting one, there is nothing bad about them.