Economy Watch: U.S. Economy Weaker Than Thought in 1st Half
That's the best way to interpret Thursday's Commerce Department report that U.S. gross domestic income, adjusted for inflation, grew at a 0.8% annual rate in the first quarter and barely at all – just 0.1% – in the second. That's much weaker than
That's the best way to interpret Thursday's Commerce Department report that U.S. gross domestic income, adjusted for inflation, grew at a 0.8% annual rate in the first quarter and barely at all – just 0.1% – in the second. That's much weaker than the 1.8% and 1.4% growth rates previously announced.
Gross domestic product shrank in both periods: 1.6% in the first quarter, 0.6% in the second. Those figures were unchanged.
Together, the two figures suggest output shrank slightly in the first half of the year.
What does this mean for bev/al marketers? If past experience is any guide, many consumers will shift downward in price points.