U.S. Economic Growth Slows In Q1, But Annual Pace Quickens

Eurozone retail sales fell only slightly this month, but it was the 5th consecutive month, and the worst quarter since the 1st quarter of 2010. Please consider Markit Eurozone Retail PMI® March 2012.

By James Picerno: The U.S. economy grew at a real (inflation-adjusted) 1.5% (seasonally adjusted annual rate) in the second quarter of 2012, the Bureau of Economic Analysis reports. That's roughly in line with consensus forecasts, but it's disappointing nonetheless. The economy's tepid 1.5% growth rate represents a slowdown from Q1's 2.0% pace and a world away from the 4.1% rate posted in last year's fourth quarter.

By RJS, a rural swamp denizen from Northeast Ohio, and a long-time commenter at Naked Capitalism. Originally published at MarketWatch 666.

James Picerno submits: The U.S. economy expanded at an annualized 2% in the third quarter, the Bureau of Economic Analysis reports. The rate of GDP increase for July through September is up slightly from Q2’s 1.7% pace, but still well below the 3.7% logged in this year’s first quarter or the robust 5.0% reading from last year’s final three-month stretch.

By Doug Short: Earlier today we learned that the Second Estimate for Q4 real GDP came in at 0.13% (rounded to 0.1%), a fractional adjusted from the -0.1% in the Advance Estimate. Let's now review the numbers on a per-capita basis.

WASHINGTON — The U.S. economy barely grew in the fourth quarter although a slightly better performance in exports and fewer imports led the government to scratch an earlier estimate that showed an economic contraction. Gross domestic product expanded at a 0.1% annual rate, the Commerce Department said on Thursday, missing the 0.5% gain forecast by analysts in a Reuters poll. The growth rate was the slowest since the first quarter of 2011 and far from what is needed to fuel a faster drop in the unemployment rate.

Dismal economic conditions in the eurozone accelerate to the downside as evidenced by falling retail sales. Let's take a look at the Eurozone in aggregate, as well as the three largest countries. Eurozone Retail Sales Drop Sharply The Markit Eurozone Retail PMI® shows Eurozone retail sales continue to fall sharply towards end of 2012. Key points

James Picerno submits: New orders for durable goods suffered a hefty fall last month, dropping 3.6% in April on a seasonally adjusted basis, the Census Bureau reports. That’s the biggest monthly slide since last October’s 3.7% retreat. This isn’t news we want to hear right now, given renewed worries of an economic slowdown. What's more, there's no statistical hiding spot: April’s drop in new orders was broad based.