{"id":1493073,"date":"2022-05-26T12:16:54","date_gmt":"2022-05-26T16:16:54","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1493073"},"modified":"2022-05-26T12:17:05","modified_gmt":"2022-05-26T16:17:05","slug":"latest-gdp-numbers-show-economy-shrank-1-5-during-first-quarter-of-year","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/latest-gdp-numbers-show-economy-shrank-1-5-during-first-quarter-of-year\/","title":{"rendered":"Latest GDP Numbers Show Economy Shrank 1.5% During First Quarter of Year"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Flatest-gdp-numbers-show-economy-shrank-1-5-during-first-quarter-of-year%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1493073&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<aside id=\"aside1\" class=\"left\">\n<\/aside>\n<p>New economic numbers show during the first quarter of the year, the U.S. Gross Domestic Product shrank by 1.5 percent.\u00a0<\/p>\n<p>&#8220;Real gross domestic product (GDP) decreased at an annual rate of 1.5 percent in the first quarter of 2022 (table 1), according to the &#8220;second&#8221; estimate released by the Bureau of Economic Analysis,&#8221; the BEA released Thursday morning. The GDP estimate released today is based on more complete source data than were available for the &#8220;advance&#8221; estimate issued last month. \u00a0In the advance estimate, the decrease in real GDP was 1.4 percent. The update primarily reflects downward revisions to private inventory investment and residential investment that were partly offset by an upward revision to consumer spending.&#8221;\u00a0<\/p>\n<p>&#8220;The decrease in real GDP reflected decreases in private inventory investment, exports, federal government spending, and state and local government spending, while imports, which are a subtraction in the calculation of GDP, increased,&#8221; they continued.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Worse than expected <a href=\"https:\/\/twitter.com\/hashtag\/GDP?src=hash&#038;ref_src=twsrc%5Etfw\">#GDP<\/a> down 1.5% versus and estimate of down 1.3%. This is the second reading. <a href=\"https:\/\/twitter.com\/MorningsMaria?ref_src=twsrc%5Etfw\">@MorningsMaria<\/a> <a href=\"https:\/\/twitter.com\/FoxBusiness?ref_src=twsrc%5Etfw\">@FoxBusiness<\/a><\/p>\n<p>\u2014 Maria Bartiromo (@MariaBartiromo) <a href=\"https:\/\/twitter.com\/MariaBartiromo\/status\/1529802701843963905?ref_src=twsrc%5Etfw\">May 26, 2022<\/a><\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The second read of 1st Quarter GDP: WORSE THAN EXPECTED. -1.5%!<\/p>\n<p>The Biden economy is a catastrophic nightmare.<\/p>\n<p>\u2014 Monica Crowley (@MonicaCrowley) <a href=\"https:\/\/twitter.com\/MonicaCrowley\/status\/1529805012162990081?ref_src=twsrc%5Etfw\">May 26, 2022<\/a><\/p><\/blockquote>\n<p>Meanwhile, inflation and gas prices continue to hit new records with no signs of slowing down.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Gas prices have soared so high that the US is now seeing demand destruction ahead of the summer driving season <a href=\"https:\/\/t.co\/mp0Z9dgTcq\">https:\/\/t.co\/mp0Z9dgTcq<\/a><\/p>\n<p>\u2014 Markets Insider (@MktsInsider) <a href=\"https:\/\/twitter.com\/MktsInsider\/status\/1529545273181093888?ref_src=twsrc%5Etfw\">May 25, 2022<\/a><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>New economic numbers show during the first quarter of the year, the U.S. Gross Domestic Product shrank by 1.5 percent.\u00a0&#8220;Real gross domestic product (GDP) decreased at an annual<\/p>\n","protected":false},"author":489,"featured_media":1493095,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1493073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1493073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/489"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1493073"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1493073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1493095"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1493073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1493073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1493073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}