United States Department of Commerce

Slower than expected growth adds more bad economic news

The economy regained speed in the first quarter, but not as much as expected, heightening fears it could struggle to cope with deep government spending cuts and higher taxes. Gross domestic product expanded at a 2.5 percent annual rate, the Commerce Department said on Friday, after growth nearly stalled in the fourth quarter. Economists had […]

Retail sales up slightly

Retail sales up slightly

Sales at U.S. retailers rose slightly less than expected in December, while underlying inflation remained tame, suggesting the recovery was strengthening modestly with little price pressure building. A separate report on Friday showed a surprisingly large gain of 0.8 percent in output at the nation’s factories, mines and utilities in December, but cold weather was […]