Friday, April 27, 2012

A weaker first quarter doesn't mean a weak year

In this April 24, 2012, file photo, women and girls carry purchases on the Third Street Promenade in Santa Monica, Calif. The Commerce Department said Friday, April 27, 2012, that the economy expanded at an annual rate of 2.2 percent in the January-March quarter, compared with a 3 percent gain in the final quarter of 2011. Consumers spent at the fastest pace in more than a year. (AP Photo/Reed Saxon, File)The U.S. economy grew more slowly in the first three months of this year. Governments spent less, and businesses cut back on investment. But consumers spent at the fastest pace in more than a year.


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