Export Grants

The US economy got a jump in the first quarter of the year posting a 3.2% annualized increase over the year before fueled by the economies continued recovery. However this is slower then the 5.2% shown the year before partly because of lower government spending and a fall in exports. Exports only grew by 5.8% in the first three months of the year which is far less then the 22.8% that was experiences at the end of last year. This may not prove to be good for Obama’s initiative to revitalize the nations Export growth as he plans to double the exports over the next 5 years.

Strong spending by consumers helped to offset these drops with a 4% increase in spending has been reported versus the year before. Obama recently said:

We are moving in the right direction and this is an important milepost on the road to recovery.