The Biden Years | U.S. GDP Growth Disappoints

U.S. GDP Growth Disappoints

U.S. economic growth for the first quarter fell far short of forecasts.

Inflation-adjusted gross domestic product grew at an annualized rate of 1.6% in the first quarter, according to an initial estimate the Bureau of Economic Analysis released today. That was below the 2.2% growth that economists surveyed by FactSet had expected.

The slowdown largely reflected a pullback of growth in consumer spending, as well as exports and outlays by the government.

Ref: www.barrons.com

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