Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Economy shows signs of life * The U.S. economy is showing signs of more life after a less-than-stellar start to the year.

The government said Friday that first-quarter growth, while disappointing, wasn't as bad as first thought. Gross domestic product, the broadest measure of economic output, grew at an annual rate of 0.8 percent in the first quarter. That was slightly better than the initial estimate of 0.5 percent.

Speaking at Harvard University, Federal Reserve Chair Janet Yellen noted that growth "looks to be picking up from the various data that we monitor."

She said if the growth continues and the labor market keeps improving, then "probably in the coming months, such a move (rate hike) would be appropriate."

Yellen did not specify when exactly a rate hike might occur. But many economists believe it could come as soon as the Fed's next meeting on June 14-15.

Papa Murphy's adds 2 stores * The take-and-bake Papa Murphy's pizza chain plans to open two new St. Louis area locations, in Fenton and Wentzville, this year.

Franchisee Mike Rawson will open a Papa Murphy's at 50 Fenton Plaza in Fenton in mid-September. Franchisees Chris and Rebeca Wise plan to open a new location in Wentzville but have not yet finalized a site, the Vancouver, Wash.-based company said.

Papa Murphy's currently has 18 St. Louis area stores that allow customers to pick up a freshly made pizza designed to be cooked at home. The chain has identified the St. Louis area as a growth market, with the potential to have as many as 60 to 80 franchise locations, said chief development officer and senior vice president of technology Jayson Tipp.

Boeing to miss tanker deadline * The Air Force said on Friday that Boeing Co. will miss its deadline for delivering an initial batch of KC-46 Pegasus aerial tankers, potentially raising the cost to Boeing of a program already behind schedule and $1. …

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