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US economic growth last quarter is revised down from 1.6% rate to 1.3%, but consumers kept spending
The Commerce Department had previously estimated that the nation’s gross domestic product — the total output of goods and services — expanded at a 1.6% rate last quarter. The first quarter's GDP growth marked a sharp slowdown from the vigorous 3.4% rate in the final three months of 2023.
First-quarter GDP growth revised down to 1.3% rate
The economy expanded at a 1.3% seasonally adjusted annual rate in the first quarter of this year, the Bureau of Economic Analysis reported Thursday in a downward revision. Economists had expected a slight downward revision in the second update,
US Q1 Economic Growth Downwardly Revised To 1.3%: Consumer Spending Falters
US Q1 2024 economic growth was upwardly revised to 1.7% with higher inflation, while jobless claims rose to 220,000, slightly above expectations.
GDP shows U.S. economy grew 1.3% in the first quarter as consumer spending slowed
The U.S. grew at a lackluster 1.3% annual pace in the first three months of the year, revised figures show, largely because of softer consumer spending
US Growth Slower Than Estimated In First Quarter: Govt
The US economy grew less than initially estimated in the first quarter of this year, the government reported Thursday, due to weaker consumer spending.
Q1 GDP Growth Revised Down to 1.3% Annual Rate
Gross Domestic Product, First Quarter 2024 (Second Estimate) and Corporate Profits (Preliminary) Real gross domestic product (GDP) increased at an annual rate of 1.3 percent in the first quarter of 2024,
The Edge Singapore
12h
US Fed not in a hurry to cut rates as consumer confidence remains healthy
Song recalls that barely half a year ago, as rates were hiked aggressively by the US Fed in its bid to wrestle down inflation ...
4d
on MSN
Americans are expected to splurge on travel this summer — again
Millions of Americans have taken to the skies, hit the road, fired up the barbecue grill and jumped into the pool this ...
9d
US Economy News Today: One Fed Official Sees Inflation Fight Stretching Into 2025
The public should be prepared for higher interest rates in 2025 as the fight against inflation will likely stretch into next ...
7d
on MSN
Federal Reserve minutes: Policymakers saw a longer path to rate cuts
After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that ...
2d
Fed's Kashkari Wants Significant Progress on Inflation Before Rate Cuts
(Reuters) - Minneapolis Federal Reserve Bank President Neel Kashkari said in an interview with CNBC broadcast on Tuesday that ...
2d
on MSN
JPMorgan CEO Jamie Dimon on 'Hard Landing' and 'Stagflation' Fears as Inflation Worries US Fed
JPMorgan CEO Jamie Dimon thinks the odds of a recession are higher than people think despite markets reaching record highs ...
abc27
2d
US consumer confidence rises in May after three months of declines
WASHINGTON (AP) — Consumer confidence in the
U.S
. rose in May following three straight months of declines, but Americans ...
21h
US Seeks Records From Tesla in Power Steering Loss Probe
WASHINGTON (Reuters) - The National Highway Traffic Safety Administration on Wednesday said it is seeking records from Tesla ...
15h
Gold slumps amid strong US Dollar, high US Treasury yields
Gold prices slump on Wednesday amid rising US Treasury yields, boosting demand for the Greenback due to hawkish comments by a ...
Business Insider India
9d
You Searched For "us recession" and got 20 results
As
US
growth shows signs of sputtering and inflation keeps rising, a re-run of the tumultuous 1970s… ...
6d
US Stock Market Can Thrive Even Without Rate Cut, Deutsche Bank’s Chadha Says
The S&P 500 Index can keep soaring to all-time highs even if the Federal Reserve forgoes interest-rate reductions this year, ...
Channel NewsAsia Singapore
6h
Why do so many Americans wrongly think the US is in a recession?
A poll for the Guardian newspaper published last week showed that nearly three in five Americans wrongly believe the
US
is ...
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