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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 Daily Signal
7d
Biden Admin Hides Justification for Altering the Definition of ‘Recession,’ Heritage Plans to Sue
The Biden administration once again tries to hide how Treasury officials determined that America didn't experience a ...
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 ...
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 ...
3d
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 ...
1d
on MSN
Inflation Report This Week Could Be a Milestone on Path to Rate Cuts
If you’re waiting for lower interest rates on mortgages and other loans, a key inflation report this Friday could be a step ...
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 ...
Opinion
46m
Opinion
The Mocker: Anthony Albanese despairs at negative reception to attacks on Peter Dutton, Coalition
Dear oh dear, this is utterly unfair and shameful. Despite the absolutely wonderful, unbelievably fantastic, and amazingly ...
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 ...
10d
on MSN
Stock market today: US stocks mixed as Wall Street gears up for big week of AI updates
Microsoft is set to unveil new product and AI updates at its 2024 Build conference. By clicking “Sign Up”, you accept our ...
7d
on MSN
US weekly jobless claims fall further as labor market remains strong
The number of Americans filing new claims for unemployment benefits fell last week, pointing to underlying strength in the ...
1d
Abercrombie & Fitch Raises Annual Sales Growth Forecast on Resilient Demand
(Reuters) - Abercrombie & Fitch raised its annual sales growth forecast on Wednesday, expecting its new and trendy apparel ...
Channel NewsAsia Singapore
7h
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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