- U.S. economy grew 2.5%, but shares decline because economist predicted that it would’ve grew 3.2%
- On the good side consumer spending grew 3.2% the best in 2 years!
- Higher personal tax rates and lower government spending also contribute to the slow economic growth
- Exports climbed 2.9%
- The U.S. savings rate also slumped to 2.6% from 4.7%, which means consumers are spending more money.
Categories: Capital Markets