U.S. economy shrinks 0.1 percent, first time in 3½ years
Wednesday, January 30, 2013
Alan Tonelson, research fellow at the U.S. Business and Industry Council in Washington, D.C., and a frequent visitor to Northeast Ohio manufacturers, noted that the figures released Wednesday will be revised.
But he said they show America is “becoming increasingly dominated by personal consumption and housing — the toxic combination whose expansion inflated the last decade’s disastrous bubble.”
On the positive side, business investment returned as a growth engine in the quarter, Tonelson said.Click here to read the article...