Poor U.S. growth sends dollar to historic record euro low
Weaker-than-expected U.S. growth for the first quarter drove the dollar to a record low against the euro on Friday and added to losses on equity markets.
The data stoked expectations that the U.S. Federal Reserve would cut U.S. interest rates.
Wall Street looked set for a poor start after the Commerce Department said weaker exports and a steady slide in spending on homebuilding had helped slow U.S. economic growth to its softest pace in four years...
http://www.reuters.com/article…934_TOPSTORY_growth_slows
Inflation rages at fastest pace in 16 years
Inflation rages at fastest pace in 16 years, data show
Hit by rising energy prices and a weak housing market, the U.S. economy slowed to real annualized growth of 1.3% in the first quarter, the weakest rate of expansion seen in four years, the Commerce Department estimated Friday.
The government's initial estimate of gross domestic product adjusted for inflation was lower than the 1.7% that economists surveyed by MarketWatch had anticipated. See Economic Calendar.
The economy has grown 2.1% over the past four quarters, the weakest real growth since the year ending in first quarter of 2003, when the economy was struggling to revive from a shallow recession.
http://www.marketwatch.com/new…%2DB7CA%2D71786DCF08FF%7D
U.S. Economy Expanded at 1.3%, Slowest Pace in Four Years
The U.S. economy grew in the first quarter at the slowest pace in four years, hobbled by the slump in home construction and a bigger trade deficit.
The 1.3 percent annual growth rate was less than forecast and followed a 2.5 percent fourth-quarter pace, the Commerce Department reported today in Washington. A measure of inflation watched by the Federal Reserve rose at a faster pace.
Consumer spending kept the expansion alive as the slowdown in housing extended to a sixth quarter, the longest continuous slide in a generation. A burst of inflation last quarter will prevent Federal Reserve policy makers from lowering interest rates to stimulate growth, economists said...
http://www.bloomberg.com/apps/…d=afoOS8P4WWpE&refer=news
Confidence of US consumers drops to seven-month low
Confidence among U.S. consumers dropped to a seven-month low in April as concerns about fuel prices, inflation and home values intensified, a private report today showed.
The Reuters/University of Michigan's final index of sentiment declined to 87.1 this month from 88.4 in March. The reading compares with a preliminary April figure of 85.3.
A drop in confidence at the start of the second quarter raises that concern consumer spending, which accounts for more two-thirds of the economy, will cool in coming months. Less spending would make the economy more vulnerable to declines in housing and business investment that undermined growth last quarter...
http://www.bloomberg.com/apps/…d=awUjW.XmTUgM&refer=news