GDP growth was expected to fall from 2.2 percent in the 4th quarter of 2014 to 1 percent in this year's first quarter. But the most recent estimate is that we actually contracted by 0.7 percent.-- Aftershock Publishing
This latest news, coupled with other less-than-robust signs, seems to indicate possible trouble ahead for the economy in the short term. What it may portend for the long term takes more looking.
At the least, a contraction in Gross Domestic Product (GDP) is a startling reminder that nothing is completely predictable when it comes to the profit system. As millions of Americans already know, times are uncertain at best, and for a significant percentage of people, poor to dire.
Claims of a rebound or a recovery have been more muted of late. Now, I don't spend much time listening to the major media, due to their corporate status and slant. It does seem clear, though, the economy is not thriving. Why else would we be registering this very unwelcome contraction?