GDP Shows Economy Slowing in First Quarter of 2023
By The Geller Report
Economic momentum is slowing, amid higher interest rates and a banking crisis, new gross domestic product report shows. The U.S. economy wobbled in the first months of 2023. But no worries, the Democrat media axis will cheer on these Biden ‘successes.’
There is very little growth in the Biden Administration’s putrid economy. The American economy grew at 1.1 percent in Q1 of 2023. By contrast, Communist China’s economy grew by 4 percent in the same period.
GDP growth shows slowing economy in the first quarter of 2023
By Fox News, April 28, 2023
Gross domestic product (GDP) increased in the first quarter of 2023, beating the odds of a recession yet again, according to the Bureau of Economic Analysis (BEA).
Real GDP increased at an annual rate of 1.1% in the first three months of this year, after rising 2.6% in the fourth quarter of 2022, according to the BEA’s advance estimate released on Thursday.
The increase in real GDP was driven by consumer spending, exports, federal government spending, state and local government spending, and nonresidential fixed investment, the BEA reported. Growth in the first quarter was offset by a slowdown in new single-family home construction and private inventory investment, the BEA said.
AUTHOR
Geller Report Staff
RELATED ARTICLE: DUMPING THE DOLLAR: Argentina Abandons U.S. Dollar: Will Pay for China Imports in Yuan
RELATED VIDEO: Economic CRISIS: Is 2023 the new 2008?
RELATED TWEET:
In early 2021, I could not imagine that Biden–or anyone–would deliberately destroy the Trump economy by levying onerous new taxes, raising energy costs, imposing stifling new regulations, and starting a new war.
It’s worse than I ever imagined.
— StevenWMosher (@StevenWMosher) April 27, 2023
EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.
This article is courtesy of DrRichSwier.com, an online community of citizen journalists, academics, subject matter experts, and activists to express the principles of limited government and personal liberty to the public, to policy makers, and to political activists. Please visit DrRichSwier.com for more great content.
