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Associated Press, Bloomberg Businessweek The U.S. economy probably expanded more slowly this winter than first estimated. But economists expect growth picked up in spring, helped by more hiring and cheaper gas. Economists forecast that the economy grew at an annual rate of 1.9% in the January-March quarter, according to a survey by FactSet. That's slower than the government's initial estimate of 2.2% reported last month. The Commerce Department will release the second of three estimates for first-quarter growth at 8:30 a.m. Eastern time Thursday. The gross domestic product, or GDP, is the output of all goods and services from refrigerators to haircuts. Economists expect a downward revision after seeing disappointing March data that wasn't included in the first estimate. One report showed the biggest increase in the U.S. trade deficit in 10 months. Another showed U.S. companies restocked more slowly. Read More
TARIFFIED: Trade Talk with Matthew Rooney
This week, trade relations between the U.S. and India are continuing to escalate. Earlier this month, the U.S. stopped granting India special trade privileges by taking away the Generalized System of Preferences (GSP) program, and India has responded by enforcing more tariffs of its own. The George W. Bush-SMU Economic Growth Initiative Director Matthew Rooney breaks down the trade conflict: For more information on trade groups and the global economy, visit www.bushcenter.org/scorecard.
How Trade Spreads Holiday Cheer
It is projected that the average American household will spend more than $1,000 during the holidays this year.
Deporting Salvadorans May Lead to Economic Decline
We should think carefully about a policy whose major impacts are likely to be reductions in employment and economic activity here at home, and increased instability and lawlessness along our borders.
Bush Institute's Laura Collins Talks Immigration on Good Morning Texas
Last week, Deputy Director of Economic Growth at the George. W. Bush Institute Laura Collins spoke with Good Morning Texas about immigration myths. During the interview, Collins had the opportunity to set the record straight and address common misconceptions about legal immigrants living in America today. The segment was inspired from facts released earlier this fall by the Bush Institute in the third edition of America's Advantage: A Handbook on Immigration and Economic Growth. Watch the full Good Morning Texas interview here.