The US economy cooled more than expected in the first quarter of the year, but remained healthy by historical standards. Economic growth has slowed steadily over the past 12 months, which bodes well for lower interest rates,
Gross domestic product, adjusted for inflation, increased at a 1.6 percent annual rate, but the report also included more evidence that the Federal Reserve’s efforts to tame price increases have stalled.
The US economy cooled more than expected in the first quarter of the year, but remained solid by historical standards. Economic growth has slowed steadily over the past 12 months, which bodes well for lower interest rates,
The US economy grew less than expected in the first quarter of 2024, at an annualised rate of 1.6 per cent, but higher than anticipated price pressures led investors to push back their expectations of interest rate cuts.
Key Takeaways The U.S. GDP grew at an annual rate of 1.6% in the fourth quarter, undershooting the median forecast for 2.2% growth.High interest rates, meant to fight inflation, are dragging down economic growth.
The US economy cooled markedly in the first three months this year, expanding less than anticipated as consumer spending and exports decelerated, according to government data released on Thursday.
U.S. economic growth slowed more than expected in the first quarter, but an acceleration in inflation suggested that the Federal Reserve would not cut interest rates before September. Growth was largely supported by consumer spending.
U.S. economic growth dipped below 2 percent during the first quarter for the first time in more than a year and a half, according to a new government reading released Thursday. Gross domestic product (GDP) grew at an annualized rate of 1.