Economic Growth Comes in at a Miserable 1.0%

Slow economic growth is showing up in the data as a recession becomes all but obvious in a stimulus free environment.  Gross domestic product growth rose at annual rate of 1.0 percent as reported by the US Commerce Department said, a downward revision of its prior estimate of 1.3 percent. This after consumer spending was revised upward.

Core PCE index rose at 2.2% rate.  Business spending and after tax profits above expectations.  Exports up 3.1% and imports increased at 1.9%.  The trade deficit widens.

Even more reason for the markets to watch Dr. Bernanke like a hawk today in Jackson Hole, Wyoming.