US economic growth slows more than expected in first quarter
- The US economy had a notable slowdown in the first quarter of this year, with consumer spending and exports decelerating, as per government data.
- Growing by 1.6% in Q1, the economy fell short of the expected 2.4% rise, marking a significant drop from the previous quarter and showing the slowest growth since mid-2022.
- US consumer spending increased by 2.5%, but there was a downturn in federal government spending. Residential investment remained strong due to high demand and limited resale inventory.
Insights by Ground AI
Does this summary seem wrong?
0 Articles
0 Articles
All
Left
Center
Right
Coverage Details
Total News Sources0
Leaning Left9Leaning Right4Center23Last Updated9 days agoBias Distribution64% Center