NPR : News

Revised GDP Numbers Weaker Than Projected

The nation's gross domestic product, the output of goods and services produced within the U.S., grew at a rate of 1.8 percent in the first quarter of this year, according to the Commerce Department's Bureau of Economic Analysis. That's a downward revision from the 2.4 percent rate previously reported.

USA Today points out that "the biggest change was a cut in the government's estimate of consumer spending growth, which dropped to 2.6% from 3.4% growth."

People spent less on services such as personal care, travel and legal services, according to Bloomberg.

Consumers took a big hit in the pocketbook as of Jan. 1: That's when a 2 percent increase in the payroll tax took effect, and people appear to have spent less after that. As CNN Money notes, consumer spending makes up about two-thirds of the economic activity in the GDP, so the figure is closely watched.

The Commerce Department regularly revises its GDP figures, and the first-quarter revision released today is the third one this year.

Copyright 2013 NPR. To see more, visit


Historic Art, Luxury Apartments Battle Over Berlin's Famous Wall

A stretch of the old Berlin Wall has stood for decades as an open-air gallery, covered in fine art and graffiti. Bids for luxury developments in the area have artists hitting the streets in protest.

Mark Bittman Is Stepping Down, But He Still Has More To Say About Food

One of the most influential food writers in recent years is leaving his job at The New York Times — to join a California food startup. "This is a calling, in a way," he says.

The Week In Politics: Bush, Trump And Rubio Trade Jabs

With just four months until the Iowa caucuses, the rhetoric among three GOP candidates has turned sharper. This week, Donald Trump, Jeb Bush and Marco Rubio honed attacks on each other.

#MemeOfTheWeek: That Article From The Onion About Mass Shootings

The article reveals what the writers really feel about mass shootings in America, something mainstream media couldn't do.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.