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US logs better but still weak growth
The economy logged slightly better -- but weak -- growth in the first quarter, spurred by improved sales of U.S. products overseas. While that's heartening, the country's economy is still far from being out of the woods.In fact, a closer look behind the 0.9 percent increase in the gross domestic product during the January-to-March period revealed much caution on the part of consumers who have been clobbered by the housing, credit and financial debacles. "What emerges is a picture of an economy that's gasping for air," said Bernard Baumohl, managing director of the Economic Outlook Group. Posted by: gorb 2008-05-30 |
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