Wednesday, May 11, 2011

Government spending reductions and a slow housing market hold economy back

Economic activity remains stuck in low gear, with real gross domestic product climbing at a 1.8% pace in the first quarter and expected to grow at a 2% pace in the current quarter, according to a report from Wells Fargo Securities.

Overall growth continues to be restrained by cutbacks in government spending as well as the ongoing struggles in the housing market.

Read the rest of the article at GSA Business by clicking here.

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