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Monday, May 07, 2007

Economic, Fiscal Round-Up: 1Q07 and 4/07

Some important economic barometers and commentary, mostly pointing to a slowdown in the overall economy, below.

• L. Josh Bevins, Economic Policy Institute -- GDP growth continues deceleration
• John Irons, Center for American Progress -- April Job Growth Disappoints

• CBO -- Federal Fiscal Performance: Monthly Budget Review
• Bureau of Economic Analysis -- 1Q07 GDP growth factors summarized:

The deceleration in real GDP growth in the first quarter primarily reflected a downturn in exports, an upturn in imports, a deceleration for nondurable goods, and a downturn in federal government spending that were partly offset by a smaller decrease in private inventory investment, an upturn in equipment and software, a smaller decrease in residential fixed investment, and an acceleration for durable goods.