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GDP Decelerates

9:38 AM MDT | June 13, 2011 | —ARNOLD PEARLMAN

The U.S. economy slowed in the first quarter, according to the Bureau of Economic Analysis’ revised estimate of GDP growth. GDP grew 1.8%, compared with 3.1% in fourth quarter 2010. Consumer spending was weaker in the first quarter than previously forecast, expanding 2.2%, down from the prior estimate of 2.7%. Estimates for growth in exports and imports were both revised upward, and the trade balance continued to deteriorate, although at a very slow pace. Earnings continued to grow in the first quarter, although at a slower rate than in the previous...

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