First-Quarter GDP Rises 0.6 Percent

Posted by Louis Navellier on 4/30/08 10:21 am

The U.S. economy grew at a 0.6% rate in the first quarter, according to the Bureau of Economic Analysis’ advance estimate.  The BEA will release two more estimates for the quarter, so it’s still possible the final result could be below 0.00%, in recession territory.  Watch my GDP video clip (filmed 4/16/08). Nevertheless, the stock market is celebrating the GDP data today, despite a 4.7% drop in investment, 26.7% housing investment plunge, and a 0.2% drop in final sales.

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