Economy Shrinks At 6.1 Percent Pace In 1q (ap)

The economy shrank at a worse-than-expected 6.1 percent pace at the start of this year as sharp cutbacks by businesses and the biggest drop in U.S. exports in 40 years overwhelmed a rebound in consumer spending.

Topics:  u.s    economy   percent pace   
BING NEWS:
  • US Federal Reserve keeps interest rates at 23-year high
    After a two-day gathering, the central bank decided unanimously to keep the benchmark lending rate unchanged at 5.25-5.50 percent ... it would slow the pace of decline of its securities holdings.
    05/1/2024 - 9:25 pm | View Link
  • Economy likely grew by 6.2 percent in Q1
    Last year, the country’s exports of goods and services hit $103.6 billion, up by 4.8 percent from $98.8 billion in 2022, but fell short of the $126.8 billion goal for 2023 set under the ...
    04/26/2024 - 2:36 pm | View Link
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    U.S. economic growth slowed in the first three months of the year, after more than a year and a half of rapid expansion — a welcome cool-off that nonetheless raises questions about how the rest ...
    04/25/2024 - 2:02 am | View Link
  • US growth slowed sharply last quarter to 1.6% pace, reflecting an economy pressured by high rates
    WASHINGTON (AP) — The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers — the main driver of economic growth — kept ...
    04/24/2024 - 1:00 pm | View Link
  • Jeremy Hunt says the economy is 'on the up' with inflation expected to fall again
    Inflation - which is currently at 3.4 percent - is expected to fall to around 3 percent when the latest figures are published on Wednesday. In its report, the International Monetary Fund (IMF ...
    04/16/2024 - 3:00 am | View Link
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