U.S. economy shrinks 1% in first quarter

U.S. economy shrinks 1% in first quarter

In the news this morning: The American economy slowed 1% in Q1; some suggest it would have slowed more were it not for the effects of Obamacare; a good take on the economic policies being debated in the Ontario election; China is investing in food production; Canada is a leader in Bitcoin capex; U.S. real estate will be sluggish for years yet.

Various sources are reporting the American economy experienced an outright contraction in the first quarter of this year.  Gross domestic product contracted at an annual rate of 1 percent in the first quarter, the Commerce Department said Thursday. The harsh winter is being blamed for the slowdown, many stories suggest economists are confident the downturn is temporary.

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For more Newswire stories:
Excluding Obamacare, US Economy Contracted By 2% In The First Quarter
Parties float different fixes for ailing Ontario economy
Food Replacing Oil as China M&A Target of Choice: Commodities
Canada is second most popular country for bitcoin investment
Real estate giant predicts slow home sales for months to come