The nation's economic growth slowed to an annualized rate of 1.6%. A surge in imports, which are subtracted from GDP, reduced first-quarter growth by nearly 1 percentage point. Growth was also held back by businesses reducing their inventories. Both those categories tend to fluctuate sharply from quarter to quarter. By contrast, the core components of the economy still appear sturdy. Along with households, businesses helped drive the economy last quarter with a strong pace of investment. The economy, though, is still creating price pressures, a continuing source of concern for the Federal Reserve.
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Robert G. Gilliland, CRPC®Managing Director and Senior Wealth Advisor
Robert’s career has been a blend of high personal performance and team building. He earned a Bachelor’s degree in Finance from Stephen F. Austin State University. To pay for his schooling, he ran a franchise of restaurants, gaining experience in managing time, people and money that would serve him well in his later endeavors. After […]
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