‘Fragile’ US Economy Hammered In Q1 By Election-Spending Hangover
by Tyler Durden
ZeroHedge.com
May 1, 2017
Growth in U.S. personal consumption expenditures in the first quarter of 2017 was slowest since 2009, according to data released Friday by the Commerce Department.
A big reason for that was the second-largest contraction in spending by non-profits (i.e. election-related lobbying/spending) in 57 years of data.
As Bloomberg details, according to monthly consumption data through February, the drag seems to owe to a sharp decline in spending by professional advocacy groups, which always surges during U.S. presidential elections, and hit a record high in November.
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