Reported 9 months ago
The US economy expanded at a 1.4% annual pace in the first quarter of the year, slightly revised from the previous estimate. Consumer spending grew at a slower rate of 1.5%, indicating the impact of high interest rates. Despite a lower growth rate compared to the previous quarter, the economy showed resilience with an increase in business investment, offsetting the decline in consumer spending. Economists expect growth to strengthen in the current quarter despite concerns over inflation and interest rates.
Source: YAHOO