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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.
Consumers curb US economic growth in first quarter, inflation cools
The U.S. economy grew more slowly in the first quarter than previously estimated after downward revisions to consumer spending and a key measure of inflation ticked down, keeping the Federal Reserve on track to possibly begin cutting interest rates at least once before the end of the year.
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.
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
15h
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 ...
2d
on MSN
Fed rate cuts face big reset on renewed inflation risks
The economy continues to roll, jobs are plenty and consumers are getting a bit more upbeat. That's bad news for interest-rate ...
9d
on MSN
Jamie Dimon is worried about how much the US is borrowing. Here’s why
Trump tax cuts and Covid-era stimulus programs have sent US government debt soaring. The cost of servicing that debt could ...
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 ...
Finbold | Finance in Bold
2d
U.S. Treasuries hint at rapidly accelerating recession
With the longest inversion curve in the U.S. history, U.S. Treasuries hint at the rapidly accelerating recession in the ...
Opinion
8d
Opinion
US Federal Reserve’s uniformity on rates comes with risks
The high-for-long mantra recently adopted by US central bank policymakers raises threats for the economy and financial ...
Swissinfo
1d
Treasuries Hit as US Sales Struggle to Lure Buyers: Markets Wrap
The world’s biggest bond market sold off after weak Treasury sales, with traders also weighing mixed economic data and ...
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 ...
Yahoo Finance
9d
Stock market today: US stocks mixed as Wall Street gears up for big week of AI updates
US
stocks traded mixed on Monday after last week's rally to record highs. Investors are preparing for a big week of AI ...
5d
on MSN
Recession will strike this year with 21 states flashing red already, top economist says
When unemployment jumps in nearly half of US states, a recession almost always follows, Piper Sandler's Nancy Lazar told ...
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