US growth at weakest level in 4 years
31 May 2007
31.05.07
The Commerce Department announced today that it was revising its estimate for Q1 growth in the US from +1.3 to +0.6 which is the weakest reading in four years. Within the release it also highlighted that the housing sector which has been the hot topic in recent months was showing signs of a soft landing but still remained a drag on the figures. Spending on new homebuilding shrank at 15.4% vs an expectation of 17%
(Research Desk - Ben Parkinson)