US Economy Unexpectedly Slows to 1.1 Percent in First Quarter US News | The Epoch Times https://ift.tt/s4jGLdC The U.S. economy expanded by 1.1 percent in the first quarter, down from 2.6 percent in the fourth quarter, according to the Bureau of Economic Analysis (BEA). This also came in below economists’ expectations of 2 percent. This was the slowest quarterly growth since the second quarter of 2022. Growth in the real GDP was driven by higher consumer and government spending and exports. This was offset by declines in private inventory investment and residential fixed investment. For market observers, the big surprise was the pop in inflation in the last quarter. The GDP Price Index, a gauge of prices of goods and services produced in the United States, unexpectedly rose to 4 percent in the first three months of 2023. This was up from 3.9 percent in the previous quarter and higher than the market forecast of 3.7 percent.... April 27, 2023 at 05:59AM https://ift.tt/FO5Hwvr Andrew Moran https://ift.tt/RXNmW9y
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