Afternoon Coffee: Carmakers Add 12M Vehicles to Takata Recall, Slow GDP Growth Seen in First Quarter

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Eight carmakers including Honda and Fiat are recalling more than 12 million U.S. vehicles due to defective Takata airbags. This new round of recalls is focused on the passenger-side air bag inflators.

GDP rose 0.8% in the first quarter of the year, more than previously thought, the Commerce Department reported today. Despite the slow start to 2016, experts say second quarter GDP will rise thanks to higher retail sales and home purchases.  

A new report says the U.S. Postal Service is considering using blockchain technology for supply chain management and other areas. The report also states the USPS could develop its own version of bitcoin to make its money exchange services more efficient.

Gasoline prices this Memorial Day weekend are the lowest in more than a decade for the holiday, with the national average now at $2.30 a gallon, according to AAA. However, as oil companies cut back on production, oil prices are steadily rising, and experts say consumers will likely see the effects at the fuel pump.

 

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