News

Issues and events that shape Long Island's economic and legislative landscape.

Tuesday, October 21, 2014

LIA Monthly Economic Report - U.S. economy first quarter ends slow

There are indications that the U.S. economy slowed at the end of the first quarter. First quarter GDP grew at an annual rate of only 2.2% as compared with growth of 3.0% during the fourth quarter of 2011. The March jobs report was disappointing. Rising layoffs and slowing manufacturing activity raised fears that the economy could again be stalling. However, other indicators suggest that the economy still has some momentum. Home prices have begun to rise in
some markets and more buyers are jumping in. Moreover, consumer spending has accelerated. Consumers do not appear to have reduced their spending in the face of higher gasoline prices.

To view the full report click here.