{"id":447592,"date":"2011-06-25T10:41:54","date_gmt":"2011-06-25T10:41:54","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/06\/25\/us-economy-grew-1-9-higher-than-previously-thought\/"},"modified":"2011-06-25T10:41:54","modified_gmt":"2011-06-25T10:41:54","slug":"us-economy-grew-1-9-higher-than-previously-thought","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/06\/25\/us-economy-grew-1-9-higher-than-previously-thought\/","title":{"rendered":"US economy grew 1.9% higher than previously thought"},"content":{"rendered":"
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You Are Here: Home<\/a> \u00bb Africa\/International<\/a> \u00bb US economy grew 1.9% higher than previously thought<\/p>\n

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Page last updated at Saturday, June 25, 2011 10:10 AM \/\/ <\/span><\/div>\n

The US economy grew at an annualised rate of 1.9% in the first three months of the year, slightly faster than previously thought, official figures have shown.<\/p>\n

This equates to a 0.5% quarterly rise. The last estimate by the Commerce Department showed growth of 1.8%.<\/p>\n

This compares with an annualised rate of 3.1% in the final quarter of 2010.<\/p>\n

High unemployment and a weak housing market are undermining the US economic recovery, analysts say.<\/p>\n

Corporate profits, in particular, were blamed for the slowdown from the final quarter of last year.<\/p>\n

US GDP is expressed as an annualised rate, which shows what the three months\u2019 economic activity would mean if it carried on for a year.<\/p>\n

Separate figures from the Commerce Department showed that orders for heavy manufactured goods rose by 1.9% in May, compared with a fall of 2.7% the previous month.<\/p>\n

The rise was greater than analysts had expected.<\/p>\n

April\u2019s drop was due to supply issues following Japan\u2019s earthquake and resulting tsunami in March, analysts said.<\/p>\n

Source: BBC<\/p>\n

Comments<\/h4>\n<\/div>\n

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You Are Here: Home \u00bb Africa\/International \u00bb US economy grew 1.9% higher than previously thought Page last updated at Saturday, June 25, 2011 10:10 AM \/\/ The US economy grew at an annualised rate of 1.9% in the first three months of the year, slightly faster than previously thought, official figures have shown. 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