Breaking News: First Quarter of 2024 Sees Slower Than Expected U.S. Economic Growth
Recent reports from the bureau of Economic Analysis have revealed that the U.S. economy experienced a slowdown in the first quarter of 2024. Gross domestic product (GDP) only rose at a 1.6% annualized rate during the first three months of the year, a significant drop from the 3.4% increase seen in the fourth quarter of 2023.
Economists had predicted a more modest decline, with the consensus among experts surveyed by FactSet estimating a 2.2% growth rate for the last quarter. This figure was revised down from the previously reported 3.4% growth in the final months of 2023.
— Stay tuned for more updates on this developing story.
