Semantics Relevance

Imports hold back US economy in first quarter, inflation flares up

Logical Analysis Report (click to view);
Knowledge Map (click to view)
*Knowledge Map Navigation: Spatial co-ordinations are initially random, and will automatically re-arrange to minimize complexity based on distance between relationships. Mouse down and drag to pan. Right click on the strategic diagram toggles between motion and stationary. Hover over abstract node (orange) to view abstractions. Hover over leaf node to view corresponding narrative. Left click on the leaf node expands the narrative to view full text.

Knowledge Diagram Navigation:

Spatial co-ordinations are initially random, and will automatically re-arrange to minimize complexity based on distance between relationships. Mouse down and drag to pan. Right click on the strategic diagram toggles between motion and stationary. Hover over abstract node (orange) to view abstractions. Hover over leaf node to view corresponding narrative. Left click on the leaf node expands the narrative to view full text.

Narrative Analysis - Report

Key Focus

  • central bank officials regard as the non-inflationary growth rate of 1.8%.. . Excluding inventories, government spending and trade, the economy grew at a 3.1% rate after expanding at a 3.3% rate in the fourth quarter. ...
  • That also dispels the notion that government spending was fueling the economy.. . The U.S. economy, which has outperformed the economies of other advanced nations, is being supported by a resilient labor market ...

    • No momentum supporting factor found

    Challenge supporting factors

  • (spending,consumer,unemployment)
  • (spending,unemployment)
  • (spending,consumer,two-thirds)
  • (spending,two-thirds)
  • (spending,semiconductor)
  • (spending,policies)
  • (spending,nonresidential)
  • (inflation,taxes)
  • (inflation,households)
  • (economy,trade)
  • (growth,government,revision)
  • (growth,revision)
  • (growth,gdp)
  • (growth,government,gdp)
  • (growth,government,fed)

    • Work-in-progress supporting factors

  • (spending,government,economy)
  • (spending,economy)
  • (spending,government,growth,economy)
  • (spending,government,growth,trade)
  • (spending,government,trade)
  • (spending,growth,trade)
  • (spending,trade)
  • (growth,government,october-december)
  • (growth,october-december)
  • (spending,government,growth,october-december)
  • (spending,government,october-december)
  • (spending,growth,october-december)
  • (spending,october-december)
  • (economy,non-inflationary)
  • (spending,government,growth,non-inflationary)

    • Time PeriodChallengeMomentumWIP
    Report21.21 0.00 78.79

    High Level Abstraction (HLA) combined

    High Level Abstraction (HLA)Report
    (1) (spending,government,economy)100.00
    (2) (spending,economy)50.82
    (3) (spending,government,growth,economy)49.18
    (4) (spending,government,growth,trade)45.59
    (5) (spending,government,trade)45.10
    (6) (spending,growth,trade)44.77
    (7) (spending,trade)44.44
    (8) (growth,government,october-december)43.46
    (9) (growth,october-december)42.32
    (10) (spending,government,growth,october-december)41.01
    (11) (spending,government,october-december)39.87
    (12) (spending,growth,october-december)39.38
    (13) (spending,october-december)39.05
    (14) (economy,non-inflationary)38.89
    (15) (spending,government,growth,non-inflationary)38.07
    (16) (spending,government,non-inflationary)36.76
    (17) (spending,growth,non-inflationary)36.44
    (18) (spending,non-inflationary)36.11
    (19) (spending,government,market)35.95
    (20) (spending,government,labor)35.78
    (21) (economy,inventories)35.62
    (22) (spending,government,growth,inventories)35.29
    (23) (spending,government,inventories)33.66
    (24) (spending,growth,inventories)33.50
    (25) (growth,recovery)33.33
    (26) (spending,growth,consumer)32.35
    (27) (spending,government,growth,recovery)31.86
    (28) (spending,growth,recovery)30.88
    (29) (growth,measure)30.72
    (30) (spending,government,growth,measure)29.90
    (31) (spending,growth,measure)28.27
    (32) (growth,investment)28.10
    (33) (spending,government,growth,investment)27.45
    (34) (spending,growth,investment)25.65
    (35) (growth,housing)25.49
    (36) (spending,government,growth,housing)25.16
    (37) (spending,growth,housing)23.04
    (38) (growth,federal)22.88
    (39) (growth,government,federal)22.55
    (40) (economy,government)21.73
    (41) (spending,government,federal)20.10
    (42) (spending,government,growth,federal)19.61
    (43) (spending,growth,federal)17.32
    (44) (spending,government,economies)16.99
    (45) (spending,government,dispels)16.67
    (46) (spending,consumer,unemployment)15.52
    (47) (spending,unemployment)15.20
    (48) (spending,consumer,two-thirds)15.03
    (49) (spending,two-thirds)14.54
    (50) (spending,consumer,economic)14.38
    (51) (spending,semiconductor)14.22
    (52) (spending,policies)14.05
    (53) (spending,nonresidential)13.89
    (54) (inflation,taxes)13.73
    (55) (inflation,income)13.56
    (56) (inflation,economy)13.40
    (57) (growth,government,gdp)13.24
    (58) (economy,unsold)13.24
    (59) (inflation,unsold)13.07
    (60) (inflation,risk)12.91
    (61) (inflation,october-december)12.75
    (62) (inflation,march_pce)12.58
    (63) (economy,interest)12.42
    (64) (inflation,interest)12.25
    (65) (inflation,increased)12.09
    (66) (inflation,households)11.93
    (67) (economy,flares)11.76
    (68) (inflation,flares)11.60
    (69) (economy,federal_reserve)11.44
    (70) (inflation,federal_reserve)11.27
    (71) (economy,trade)10.13
    (72) (economy,growth)9.97
    (73) (economy,dispels)9.80
    (74) (growth,government,revision)8.33
    (75) (growth,revision)7.84
    (76) (growth,gdp)7.68
    (77) (growth,government,fed)3.92
    (78) (growth,defense)2.12
    (79) (growth,government,defense)1.96
    (80) (growth,fed)0.16

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    Supporting narratives:

    Please refer to knowledge diagram for a complete set of supporting narratives.

    • challenge - Back to HLA
      • Continuing claims fell between the March and April survey periods, implying the unemployment rate was likely unchanged after dipping to 3.8% last month from 3.9% in February.. . Low layoffs are keeping wages high, sustaining consumer spending, which accounts for more than two-thirds of economic activity ...
      • High Level Abstractions:
        • (spending,consumer,unemployment)
        • (spending,unemployment)
        • Inferred entity relationships (2)
        • (consumer,spending,two-thirds) [inferred]
        • (spending,unemployment) [inferred]

    • challenge - Back to HLA
      • Continuing claims fell between the March and April survey periods, implying the unemployment rate was likely unchanged after dipping to 3.8% last month from 3.9% in February.. . Low layoffs are keeping wages high, sustaining consumer spending, which accounts for more than two-thirds of economic activity. Consumer spending grew at a still-solid 2.5% rate, slowing from the 3.3% growth pace rate notched in the October-December quarter ...
      • High Level Abstractions:
        • (spending,consumer,two-thirds)
        • (spending,two-thirds)
        • Inferred entity relationships (2)
        • (consumer,spending,unemployment) [inferred]
        • (spending,two-thirds) [inferred]

    • challenge - Back to HLA
      • Investment in nonresidential structures like factories contracted for the first time in more than year as the boost from policies by the Biden administration to bring the production of semiconductor manufacturing back to the U.S. ...
      • High Level Abstractions:
        • (spending,semiconductor)

    • challenge - Back to HLA
      • Investment in nonresidential structures like factories contracted for the first time in more than year as the boost from policies by the Biden administration to bring the production of semiconductor manufacturing back to the U.S ...
      • High Level Abstractions:
        • (spending,policies)

    • challenge - Back to HLA
      • Business spending picked up as companies invested in artificial intelligence.. . Investment in nonresidential structures like factories contracted for the first time in more than year as the boost from policies by the Biden administration to bring the production of semiconductor manufacturing back to the U.S ...
      • High Level Abstractions:
        • (spending,nonresidential)

    • challenge - Back to HLA
      • Though income increased at a $407.1 billion rate compared with the fourth quarter's $230.2 billion pace, the gains were eroded by inflation and higher taxes. Income at the disposal of households after accounting for inflation and taxes rose at a 1.1% rate versus a 2.0% pace in the October-December quarter ...
      • High Level Abstractions:
        • (inflation,taxes)
        • (inflation,households)

    • challenge - Back to HLA
      • central bank officials regard as the non-inflationary growth rate of 1.8%.. . Excluding inventories, government spending and trade, the economy grew at a 3.1% rate after expanding at a 3.3% rate in the fourth quarter. That also dispels the notion that government spending was fueling the economy ...
      • High Level Abstractions:
        • (economy,trade)

    • challenge - Back to HLA
      • Trade and inventories are the most volatile GDP components, and are often subject to revision when the government updates its growth estimates. Fed officials are expected to leave rates unchanged at the U.S ...
      • High Level Abstractions:
        • (growth,revision)
        • (growth,gdp)
        • (growth,government,revision)
        • (growth,government,gdp)
        • Inferred entity relationships (11)
        • (government,growth,spending,trade) [inferred]
        • (government,growth,revision) [inferred]
        • (government,growth,non-inflationary,spending) [inferred]
        • (government,growth,measure,spending) [inferred]
        • (government,growth,october-december) [inferred]
        • (government,growth,inventories,spending) [inferred]
        • (government,growth,october-december,spending) [inferred]
        • (government,growth,recovery,spending) [inferred]
        • (government,growth,investment,spending) [inferred]
        • (growth,revision) [inferred]
        • (government,growth,housing,spending) [inferred]

    • challenge - Back to HLA
      • Trade and inventories are the most volatile GDP components, and are often subject to revision when the government updates its growth estimates. Fed officials are expected to leave rates unchanged at the U.S. ...
      • High Level Abstractions:
        • (growth,government,fed)
        • Inferred entity relationships (10)
        • (government,growth,investment,spending) [inferred]
        • (government,growth,revision) [inferred]
        • (government,growth,spending,trade) [inferred]
        • (government,growth,non-inflationary,spending) [inferred]
        • (government,growth,measure,spending) [inferred]
        • (government,growth,october-december) [inferred]
        • (government,growth,housing,spending) [inferred]
        • (government,growth,inventories,spending) [inferred]
        • (government,growth,october-december,spending) [inferred]
        • (government,growth,recovery,spending) [inferred]

    • challenge - Back to HLA
      • Trade and inventories are the most volatile GDP components, and are often subject to revision when the government updates its growth estimates. Fed officials are expected to leave rates unchanged at the U.S. central bank's policy meeting next week ...
      • High Level Abstractions:
        • (growth,fed)

    • WIP - Back to HLA
      • central bank officials regard as the non-inflationary growth rate of 1.8%.. . Excluding inventories, government spending and trade, the economy grew at a 3.1% rate after expanding at a 3.3% rate in the fourth quarter. ...
      • High Level Abstractions:
        • (spending,trade)
        • (spending,economy)
        • (spending,government,growth,economy)
        • (spending,government,trade)
        • (spending,government,growth,trade)
        • (spending,government,economy)
        • (spending,growth,trade)
        • Inferred entity relationships (16)
        • (government,spending,trade) [inferred]
        • (economy,government,growth,spending) [inferred]
        • (government,growth,revision) [inferred]
        • (government,growth,spending,trade) [inferred]
        • (government,growth,non-inflationary,spending) [inferred]
        • (government,growth,measure,spending) [inferred]
        • (government,growth,october-december) [inferred]
        • (government,growth,inventories,spending) [inferred]
        • (government,growth,october-december,spending) [inferred]
        • (government,growth,recovery,spending) [inferred]
        • (economy,government) [inferred]
        • (government,growth,investment,spending) [inferred]
        • (spending,trade) [inferred]
        • (economy,government,spending) [inferred]
        • (government,growth,housing,spending) [inferred]
        • (growth,spending,trade) [inferred]

    • WIP - Back to HLA
      • That also dispels the notion that government spending was fueling the economy.. . The U.S. economy, which has outperformed the economies of other advanced nations, is being supported by a resilient labor market ...
      • High Level Abstractions:
        • (spending,government,economy)
        • (spending,government,dispels)
        • Inferred entity relationships (3)
        • (government,spending,trade) [inferred]
        • (economy,government,growth,spending) [inferred]
        • (economy,government) [inferred]

    • WIP - Back to HLA
      • Trade chopped off 0.86 percentage point from GDP growth.. . Government spending decelerated to a 1.2% rate from the 4.6% pace notched in the October-December quarter amid a decline in federal government outlays, mostly defense. ...
      • High Level Abstractions:
        • (spending,government,growth,october-december)
        • (spending,growth,october-december)
        • (growth,government,october-december)
        • (spending,october-december)
        • (growth,october-december)
        • (spending,government,october-december)
        • Inferred entity relationships (13)
        • (growth,october-december,spending) [inferred]
        • (government,growth,revision) [inferred]
        • (government,growth,spending,trade) [inferred]
        • (government,growth,non-inflationary,spending) [inferred]
        • (growth,october-december) [inferred]
        • (government,growth,measure,spending) [inferred]
        • (government,growth,october-december) [inferred]
        • (government,growth,inventories,spending) [inferred]
        • (government,growth,october-december,spending) [inferred]
        • (government,growth,recovery,spending) [inferred]
        • (government,growth,investment,spending) [inferred]
        • (government,growth,housing,spending) [inferred]
        • (october-december,spending) [inferred]

    • WIP - Back to HLA
      • central bank officials regard as the non-inflationary growth rate of 1.8%.. . Excluding inventories, government spending and trade, the economy grew at a 3.1% rate after expanding at a 3.3% rate in the fourth quarter ...
      • High Level Abstractions:
        • (economy,government)
        • (economy,non-inflationary)
        • (spending,government,growth,non-inflationary)
        • (spending,non-inflationary)
        • (spending,government,non-inflationary)
        • (economy,inventories)
        • (spending,government,growth,inventories)
        • (spending,government,inventories)
        • (spending,growth,inventories)
        • (economy,growth)
        • (spending,growth,non-inflationary)
        • Inferred entity relationships (15)
        • (government,growth,spending,trade) [inferred]
        • (economy,government,growth,spending) [inferred]
        • (government,growth,non-inflationary,spending) [inferred]
        • (government,growth,measure,spending) [inferred]
        • (government,growth,october-december) [inferred]
        • (government,growth,inventories,spending) [inferred]
        • (government,growth,recovery,spending) [inferred]
        • (growth,non-inflationary,spending) [inferred]
        • (government,growth,housing,spending) [inferred]
        • (economy,government,spending) [inferred]
        • (government,growth,revision) [inferred]
        • (non-inflationary,spending) [inferred]
        • (government,growth,october-december,spending) [inferred]
        • (government,growth,investment,spending) [inferred]
        • (growth,inventories,spending) [inferred]

    • WIP - Back to HLA
      • economy, which has outperformed the economies of other advanced nations, is being supported by a resilient labor market. ...
      • High Level Abstractions:
        • (spending,government,market)
        • (spending,government,labor)

    • WIP - Back to HLA
      • Domestic demand, a better growth measure, was strong as consumer spending moderated slightly while business investment picked up and the housing recovery gained steam. ...
      • High Level Abstractions:
        • (spending,growth,investment)
        • (growth,investment)
        • (growth,housing)
        • (growth,recovery)
        • (spending,growth,recovery)
        • (spending,government,growth,recovery)
        • (spending,government,growth,housing)
        • (spending,growth,housing)
        • (spending,government,growth,investment)
        • Inferred entity relationships (16)
        • (government,growth,spending,trade) [inferred]
        • (government,growth,non-inflationary,spending) [inferred]
        • (government,growth,measure,spending) [inferred]
        • (government,growth,october-december) [inferred]
        • (government,growth,inventories,spending) [inferred]
        • (government,growth,recovery,spending) [inferred]
        • (growth,investment) [inferred]
        • (growth,recovery) [inferred]
        • (government,growth,housing,spending) [inferred]
        • (growth,investment,spending) [inferred]
        • (government,growth,revision) [inferred]
        • (growth,housing,spending) [inferred]
        • (growth,housing) [inferred]
        • (government,growth,october-december,spending) [inferred]
        • (growth,recovery,spending) [inferred]
        • (government,growth,investment,spending) [inferred]

    • WIP - Back to HLA
      • Domestic demand, a better growth measure, was strong as consumer spending moderated slightly while business investment picked up and the housing recovery gained steam ...
      • High Level Abstractions:
        • (growth,measure)
        • (spending,growth,consumer)
        • (spending,government,growth,measure)
        • (spending,growth,measure)
        • Inferred entity relationships (12)
        • (government,growth,revision) [inferred]
        • (government,growth,spending,trade) [inferred]
        • (government,growth,non-inflationary,spending) [inferred]
        • (government,growth,october-december) [inferred]
        • (growth,measure,spending) [inferred]
        • (government,growth,inventories,spending) [inferred]
        • (government,growth,october-december,spending) [inferred]
        • (government,growth,recovery,spending) [inferred]
        • (government,growth,investment,spending) [inferred]
        • (government,growth,housing,spending) [inferred]
        • (growth,spending,trade) [inferred]
        • (growth,measure) [inferred]

    • WIP - Back to HLA
      • Government spending decelerated to a 1.2% rate from the 4.6% pace notched in the October-December quarter amid a decline in federal government outlays, mostly defense. ...
      • High Level Abstractions:
        • (growth,government,defense)
        • (spending,growth,federal)
        • (spending,government,federal)
        • (growth,government,federal)
        • (growth,federal)
        • (growth,defense)
        • (spending,government,growth,federal)
        • Inferred entity relationships (17)
        • (government,spending,trade) [inferred]
        • (government,growth,spending,trade) [inferred]
        • (government,growth,non-inflationary,spending) [inferred]
        • (government,growth,measure,spending) [inferred]
        • (government,growth,october-december) [inferred]
        • (government,growth,inventories,spending) [inferred]
        • (government,growth,recovery,spending) [inferred]
        • (federal,government,growth,spending) [inferred]
        • (federal,government,growth) [inferred]
        • (government,growth,housing,spending) [inferred]
        • (growth,spending,trade) [inferred]
        • (federal,growth) [inferred]
        • (federal,growth,spending) [inferred]
        • (government,growth,revision) [inferred]
        • (federal,government,spending) [inferred]
        • (government,growth,october-december,spending) [inferred]
        • (government,growth,investment,spending) [inferred]

    • WIP - Back to HLA
      • That also dispels the notion that government spending was fueling the economy.. . The U.S. economy, which has outperformed the economies of other advanced nations, is being supported by a resilient labor market. ...
      • High Level Abstractions:
        • (spending,government,economies)
        • Inferred entity relationships (1)
        • (government,spending,trade) [inferred]

    • WIP - Back to HLA
      • Treasury Secretary Janet Yellen told Reuters in an interview that she was focused on consumer and business spending.. . "Those two elements of final demand came in line with last year's growth rate ...
      • High Level Abstractions:
        • (spending,growth,consumer)
        • Inferred entity relationships (1)
        • (growth,spending,trade) [inferred]

    • WIP - Back to HLA
      • The cooler-than-expected growth reported by the Commerce Department in its snapshot of first-quarter gross domestic product on Thursday, which also reflected a downshift in government spending, exaggerated the moderation in economic activity. Domestic demand, a better growth measure, was strong as consumer spending moderated slightly while business investment picked up and the housing recovery gained steam ...
      • High Level Abstractions:
        • (spending,consumer,economic)

    • WIP - Back to HLA
      • Though income increased at a $407.1 billion rate compared with the fourth quarter's $230.2 billion pace, the gains were eroded by inflation and higher taxes ...
      • High Level Abstractions:
        • (inflation,income)
        • (inflation,increased)

    • WIP - Back to HLA
      • Imports hold back US economy in first quarter, inflation flares up. . . WASHINGTON (Reuters) - The U.S. economy grew at its slowest pace in nearly two years in the first quarter amid a surge in imports and small build-up of unsold goods at businesses, signs of solid demand that together with an acceleration in inflation reinforced expectations the Federal Reserve would not cut interest rates before September ...
      • High Level Abstractions:
        • (inflation,flares)
        • (inflation,economy)
        • (economy,flares)

    • WIP - Back to HLA
      • economy grew at its slowest pace in nearly two years in the first quarter amid a surge in imports and small build-up of unsold goods at businesses, signs of solid demand that together with an acceleration in inflation reinforced expectations the Federal Reserve would not cut interest rates before September ...
      • High Level Abstractions:
        • (inflation,unsold)
        • (economy,unsold)

    • WIP - Back to HLA
      • . The strong readings pose an upside risk to March PCE inflation data due to be released on Friday, though much would depend on revisions to the January and February data ...
      • High Level Abstractions:
        • (inflation,march_pce)
        • (inflation,risk)

    • WIP - Back to HLA
      • Income at the disposal of households after accounting for inflation and taxes rose at a 1.1% rate versus a 2.0% pace in the October-December quarter. ...
      • High Level Abstractions:
        • (inflation,october-december)

    • WIP - Back to HLA
      • economy grew at its slowest pace in nearly two years in the first quarter amid a surge in imports and small build-up of unsold goods at businesses, signs of solid demand that together with an acceleration in inflation reinforced expectations the Federal Reserve would not cut interest rates before September. ...
      • High Level Abstractions:
        • (economy,federal_reserve)
        • (inflation,federal_reserve)
        • (inflation,interest)
        • (economy,interest)

    • WIP - Back to HLA
      • That also dispels the notion that government spending was fueling the economy. ...
      • High Level Abstractions:
        • (economy,government)
        • Inferred entity relationships (2)
        • (economy,government,growth,spending) [inferred]
        • (economy,government,spending) [inferred]

    • WIP - Back to HLA
      • Excluding inventories, government spending and trade, the economy grew at a 3.1% rate after expanding at a 3.3% rate in the fourth quarter. That also dispels the notion that government spending was fueling the economy. ...
      • High Level Abstractions:
        • (economy,dispels)

    • WIP - Back to HLA
      • Trade chopped off 0.86 percentage point from GDP growth.. . Government spending decelerated to a 1.2% rate from the 4.6% pace notched in the October-December quarter amid a decline in federal government outlays, mostly defense ...
      • High Level Abstractions:
        • (growth,government,gdp)
        • Inferred entity relationships (10)
        • (government,growth,investment,spending) [inferred]
        • (government,growth,revision) [inferred]
        • (government,growth,spending,trade) [inferred]
        • (government,growth,non-inflationary,spending) [inferred]
        • (government,growth,measure,spending) [inferred]
        • (government,growth,october-december) [inferred]
        • (government,growth,housing,spending) [inferred]
        • (government,growth,inventories,spending) [inferred]
        • (government,growth,october-december,spending) [inferred]
        • (government,growth,recovery,spending) [inferred]