Gross Domestic Product

US economy loses momentum in Q1, consumer avticity remains healthy

Breaking: US GDP grows at an annual rate of 1.1% in Q1 vs. 2% expected

The US economy expanded at an annualized rate of 1.1% in the first quarter of 2023, the US Bureau of Economic Analysis' (BEA) first estimate showed on Thursday. This reading followed the 2.6% growth recorded in the last quarter of 2022 and came in worse than the market expectation for an expansion of 2%.

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