1Q US economy grew at 1.3% annualized rate, slower than previous estimate and Q4 2023, with lower retail sales, equipment spending, and revised inflation at 3.3%.
The US economy grew at an annualized rate of 1.3% in Q1, slower than the 1.6% previously estimated and markedly slower than the 3.4% growth in Q4 2023. This followed decreased readings of retail sales and equipment spending. Inflation was revised down to 3.3% in the first quarter, from 3.4%, which was the highest quarterly price-pressure growth in a year. Jobless claims also edged up slightly.
May 30, 2024
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