U.S. GDP growth slows to 1.1% in Q1.
TL;DR Summary
The US economy grew at an annual rate of 1.1% in the first quarter of 2023, marking a sharp slowdown and raising fears of a recession. The Federal Reserve's fight against inflation is hampering large parts of the economy, while weaknesses are emerging in the job market and consumer spending. A pullback in banks' willingness to lend could freeze business investments and job creation. Although consumer spending has been strong, there are signs that many could begin pulling back due to credit card debt and inflation. The economy remains resilient but shaky, with many economists predicting a mild downturn in the coming months.
- GDP report shows the U.S. economy is slowing The Washington Post
- U.S. GDP rose at a 1.1% pace in the first quarter as signs build that the economy is slowing CNBC
- GDP Report: US Economy Grew at 1.1% Rate in Q1 The New York Times
- GDP Report Shows Economic Growth Slowed in First Quarter The Wall Street Journal
- GDP: US economy grows 1.1% in Q1, slower than expected Yahoo Finance
Reading Insights
Total Reads
0
Unique Readers
11
Time Saved
4 min
vs 5 min read
Condensed
88%
845 → 103 words
Want the full story? Read the original article
Read on The Washington Post