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ECONOMICS COMMENTARY
Apr 26, 2013
No end to Fed stimulus in sight as US economic growth fails to impress in Q1
The US economy expanded at a slower-than-expected rate in the first quarter. Gross domestic product rose at an annualised rate of 2.5%, up sharply from the end of last year, but economists were hoping to see growth of at least 3.0%. Moreover, even this weaker-than-hoped growth rate exaggerates the true underlying momentum in the economy, as growth of final demand slowed compared with Q4 2012.
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