NEW YORK, April 28, 2011 /PRNewswire/ -- The U.S. Bureau of Economic Analysis today reported 1.8 percent growth in real gross domestic product for the first quarter of 2011.
The lackluster economic performance in Q1 is less than generally anticipated at the start of the year, but we do expect a resumption of moderate growth going forward. The Conference Board Leading Economic Index® for the United States signals sustained moderate growth in the next three to six months, despite continued problems in the housing market, concerns about food and gas prices, and continued austerity for state and local government. However, moderate growth is not enough to meaningfully lower the unemployment rate or help tackle our large fiscal challenges. A higher growth trajectory will require substantially more business investment, jobs, and personal income to support consumer spending.
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