US Economic Growth Slows to 1.1% in Q1 Amid Bank Woes and Other Hurdles
TL;DR Summary
US economic growth slowed to 1.1% in Q1, despite an increase in consumer spending, and activity is set to moderate further as the effects of higher interest rates spread. The Federal Reserve is on track to raise interest rates by another 25 basis points next week. Weekly jobless claims fell by 16,000 to a seasonally adjusted 230,000 for the week ending April 22, while continuing claims remain low by historical standards.
- US economic growth slows in first quarter; weekly jobless claims fall Reuters
- GDP Report: US Economy Grew at 1.1% Rate in Q1 The New York Times
- U.S. GDP rose at a 1.1% pace in the first quarter as signs build that the economy is slowing CNBC
- The U.S. economy is losing steam. Bank woes and other hurdles are to blame. NPR
- GDP Report Shows Economic Growth Slowed in First Quarter The Wall Street Journal
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