According to reports, economic growth slowed in the first quarter of 2012. This adds to fears that the recovery is hitting yet another soft patch. The first quarter growth numbers was lower than what many economists had predicted, which has many worried about the financial future of this country.
BY ERIC MORATH
Updated April 27, 2012, 12:26 p.m. ET
Wall Street Journal
Economic growth slowed in the first three months of the year, adding to fears that the uneven recovery is hitting yet another soft patch.
Gross domestic product, the broadest measure of all the goods and services produced in an economy, grew at an inflation-adjusted annual rate of 2.2% in the first quarter of 2012, the Commerce Department said Friday. That marked a slowdown from the 3% growth rate of the October-to-December quarter.
First-quarter growth was slower than the projection by many economists in recent weeks of a 2.6% rate, but stronger than expectations at the start of the year.
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