INQUIRER.net: US stocks, bonds surge as Q1 growth cut to 1.8%

INQUIRER.net Philippine News for Filipinos

US stocks, bonds surge as Q1 growth cut to 1.8% Jun 27th 2013, 00:21 WASHINGTON—The US economy grew at a pace of just 1.8 percent in the first quarter, the Commerce Department said Wednesday, in a sharp downward revision that sent bonds and stocks higher on hopes of more stimulus from the Federal Reserve.   Consumer spending and trade were both much slower than previously estimated as the weak spot that began in late 2012 persisted into the new year amid a rise in payroll taxes and cuts in government spending.   The final revision of the growth data surprised economists, who had expected that the preliminary picture of a stronger rebound in the January-March period, with growth running at 2.4 percent, would be unchanged. &nb... Keep on reading: US stocks, bonds surge as Q1 growth cut to 1.8% Media files: united-states-economic-growth.jpg (image/jpeg)

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