The Commerce Department reported that the U.S. economy was less bad than previously believed in the first quarter as real economic growth was revised upward from a seasonally adjusted, annualized rate of -6.1 to -5.7 percent.
This is the second of three estimates for Q1, the final reading to be provided in one month. Forecasts for economic growth during the current quarter range from about -1 percent to -3 percent and some analysts expect a return to growth later in the year.
U.S. Economy 'Less Bad' in Q1
Tim Iacono is the founder of the investment website 'Iacono Research', a subscription service providing market commentary and investment advisory services specializing in natural resources.
He also writes a financial blog known as 'The Mess That Greenspan Made', a sometimes irreverent look at the many and varied after-effects of the Greenspan term at the Federal Reserve.
Use the links below to visit Tim's website/blog.