The news is not good for the Biden Administration's promise to build back Better With real GDP growth lower than expected And inflation Rising again Americans While they're feeling the pinch what Does this mean for the economy and the Buy administration's plans moving Forward Your guess is as good as ours How much crankshaw news breaks every day Here be the first to know when tap Subscribe below to stay informed Before I get to that a recession and a War are underway do you know who will be Hit hardest when cracks start to show You you need to protect yourself and Your family because things will get Worse Noble gold Investments is here to Help savings and Investments that you've Built are too important to lose the Precious metals Ira from Noble gold Investment protects your wealth and with Every fifty thousand dollar or more Qualifying Ira they're giving away a Beautiful one-quarter ounce gold Eagle Bullion coin stop worrying and visit Nextnewsgold.com that's Nextnewsgold.com Noble gold Investments Can't be beat get their investment guide If you're not ready to invest in the Description box below you'll find the Link click more for mobile users now Back to the news
The Bureau of economic analysis Bea just Released its Advanced estimate for the First quarter of 2023 and the results Are in unfortunately the news is not Good for the Biden administration's Promise to build back better according To the Bea the U.S economy is showing Significant signs of deceleration with Real GDP increasing at an annual rate of Just 1.1 percent in the first quarter of 2023. Democrats continue to pretend bide Inflation isn't that bad watch The newest data suggests the U.S economy Is slowing down consumers are still Spending and companies are still hiring And investing but not at the same Pace As last year at the same time the Economy continues to defy predictions of An imminent recession economics Correspondent Paul solman has our report On what the numbers tell us and how that Square is with how Americans feel about It all The latest GDP estimate of economic Growth out this morning lower than many Had expected Economist Justin wilfers GDP grew at a rate of 1.1 percent it's a Measure of either of how much we all Produced how much more this quarter than Last or how much we all spent or how Much we all earned it's it's all three Things one point one percent is lower Than it has been do your colleagues all
Agree that this is bad news or good news Well on the one hand it is a little Lower than it has been recently and a Little lower than many expected on the Other all those people who were talking About recessions are starting to feel Pretty disappointed because this economy Keeps motoring along ah the answer President Harry Truman supposedly Responded to way back in 1949 with can Somebody bring me a one-handed Economist So you're looking on the bright side I Think there's a lot to like here uh this Has been an economy dominated by people Talking about recession and doom and Glooming their way forward but every Time you look at the actual numbers People are spending people are producing The economy keeps growing The Real gross domestic product GDP only Increased at an annual rate of 1.1 Percent which is significantly lower Than the expected 2.0 percent and a Considerable slowdown from the fourth Quarter of 2022 in which the GDP had Increased by uh 2.6 percent Uh the Bea attributes the economic Deceleration to a downturn in private Inventory investment and a Slowdown in Non-residential fixed investment which Were partly offset by an acceleration in Consumer spending an upturn in exports And a smaller decrease in residential Fixed investment
While Imports turned up However the Bea's measure of inflation Showed price increases accelerating Upwards in the first quarter of 2023 the Price index for gross domestic product Increased 3.8 percent more than the 3.6 Percent increase in the fourth quarter Of 2022. the pce price index known as The federal reserve's preferred Inflation gauge made an even more Dramatic jump increasing 4.2 percent in The first quarter of 2023 after Increasing 3.7 percent at the end of Last year Economists had estimated that the pce Price index would come in at just 0.5 percent making this a huge Miss core Pce inflation which excludes volatile Food and energy prices also surged to a 4.9 percent increase to kick off 2023 After Rising 4.4 percent in the fourth Quarter of 2022. these GDP and pce Numbers are worrying for Americans as They seek relief from rising prices it's Worth noting that Americans have already Taken 24 consecutive months of pay cuts To their real wages due to inflation The economy is stagnating and this is Confirmed by job creators Network President and CEO Alfredo Ortiz who Noted that the continuation of the slow Or no growth economy under President Biden is a direct result of bad Democrat Policies that make it more difficult for
Small businesses to operate and expand Ortiz also warned That this anemic growth will only get Worse if the Biden administration's Agenda of tax hikes new regulations and Reckless spending is further implemented Republicans need to block these Anti-small business measures otherwise The economy we will be thrown back into A recession In conclusion the recent report by the Bureau of economic analysis is a Sobering reminder of the state of the U.S economy The Slowdown is real GDP Growth coupled with Rising inflation Paints a grim picture for the future the Bite Administration must take bold steps To address the root causes of this Economic Decline and work towards Restoring the confidence of the American People in the economy Failure to do so will result in further Economic hardships for millions of Americans and we want to know your Thoughts on this for the next News Network I'm rich Christ I'll see you Next time Thank you for watching that report There's a war and a recession cracks Will appear soon and guess who's going To be hit the hardest that's right you The situation will only get worse so you Must protect yourself and your family And you can get help from Noble gold
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