Excerpt from: Forex News
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| April 29, 2009 | | U.S. economy contracts 6.1% | The U.S. economy remains in a state of contraction at the close of Quarter 1, 2009. The U.S. economy has shrunk 6.1% in Quarter 1. The rate of the decline is not quite as bad as the 6.3% at the end of 2008, but it was still much worse than expected. Economists had expected a decline of 4.3%.
Consumer confidence is slowly returning, and that is expected to help the economy going forward. This last quarter, the main drag on economic growth was the lack of business investment. However, there are some hopes that business investment will pick up as consumer confidence improves.
Moving forward, it will be interesting to see whether economic stimulus measures passed by the U.S. government will have an effect on the economy, spurring growth and leading to the beginning of a recover from this recession.
| Topic Tags: business investment, consumer confidence, currencies, economic stimulus, forex trading, U.S. dollar, U.S. economy | |
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