US GDP grows less than expected

April 30th, 2014

FAKE NEWS for the Zionist agenda

The US gross domestic product rose at an annual rate of just 0.1 percent from January through the end of March, the weakest performance in three years.

According to the Commerce Department, the US economy grew 1.2 percent in the first quarter, compared to 2.6 percent at the end of 2013.

The weaker-than-expected GDP growth popped the gold market a few dollars and brought prices back to near unchanged on the day, according to Kitco News. June gold was last up $0.50 at $1,296.70 an ounce. Spot gold was last quoted up $1.20 at $1,297.50. May Comex silver last traded down $0.128 at $19.36 an ounce.

In Wall Street, investment in business equipment fell 5.5 percent to market the biggest drop in almost five years, Market Watch reports.

Investment in home construction also fell for the second quarter in a row, down an annualized 5.7 percent.

Also US exports fell, government spending dropped again, and companies increased inventories at a much slower rate. The estimated increase in inventories was $87.4 billion, smaller than the record $100 billion-plus spikes in the third and fourth quarters of 2013.

Exports declined 7.6 percent, while imports fell 1.4 percent.

Excluding inventories, final sales of American-made goods and services softened to a 0.7 percent pace from 2.7 percent in the fourth quarter.

Inflation as measured by the PCE index rose at a 1.4 percent annual pace, or by 1.3 percent excluding food and energy.

ARA/ARA

Source Article from http://www.presstv.ir/detail/2014/04/30/360723/us-gdp-posts-smallest-gain-in-3-years/