| Submit your comments on this article |
| Economy |
| First-quarter economic growth revised down slightly to negative 1.5% annual rate |
| 2022-05-28 |
| [Washington Examiner] GDP fell at a 1.5% annualized rate in the first quarter of 2022, a revised estimate from the Bureau of Economic Analysis showed Thursday morning. The decline in inflation-adjusted GDP is a major reversal from the previous quarter, when growth soared to a 6.9% rate as businesses began healing faster from the pandemic as restrictions were lifted. The first quarter of this year marks the first such contraction since the second quarter of 2020, when the economy suffered from the enormous shock of coronavirus shutdowns. The decline in GDP for the first part of this year fueled anxiety among some economists that a recession is around the corner. "While we still expect the Fed to steer the economy toward a soft landing, downside risks to the economy and the probability of a recession are increasing," economists from Oxford Economics said after the report was released. The country is being plagued by explosive inflation, with consumer prices increasing by 8.3% in the 12 months ending in April. As a result, the Federal Reserve has embarked upon a historic interest rate hiking cycle designed to slow the economy and tame the rising prices. |
| Posted by:Besoeker |
| #3 So you own a business and you operate on a very slim profit margin on fuel sales.Soon Government or State dictates you must sell at or below cost. What are you gonna do. Add on price now as fuel supplies will shortly become very erratic. You will not lose money on sales. You will increase retail to slow sales so you don't run out of fuel. Perhaps shutdown fuel pumps all together. The decision is now on you. What would you do. Some states are now requiring $10.00 dollar price indicator. Who pays for that. States like Pa. and Maryland are wanting to increase state taxes also.Daddy big bucks gets raped again and again. |
| Posted by: Dale 2022-05-28 14:56 |
| #2 There are 23-33% more dollars chasing those items now. |
| Posted by: Glenmore 2022-05-28 09:53 |
| #1 Simply Stated Unbridled Profiteering We are paying out of our A$$es for items that use to cost 25% to 33++ % less just a year ago. |
| Posted by: NN2N1 2022-05-28 06:55 |