Q1 GDP Report: Will US Economy Overcome Obstacles?

The US economy is expected to show a third straight quarterly expansion in gross domestic product, with consumer spending keeping a recession at bay, at least for now. However, higher interest rates are taking a toll on the economy, leading to a slowdown in home building and business investment. While consumer spending has remained resilient, forecasters warn that it could weaken further amid headlines about layoffs, bank failures, and warnings of a possible recession.