Similar Stories to Us Economy Grew At Tepid 1.1 Percent Pace In Spring on Bing News

WASHINGTON (AP) — The U.S. economy expanded at a sluggish 1.1 percent pace this spring as businesses sharply reduced their stockpiles of goods and spent less on new buildings and equipment. Consumers offset the corporate cutbacks by spending at the fastest pace in six quarters, Commerce said Friday. Stock markets gyrated amid signs that China's economy, the second-largest in the world, was slowing. State and local governments scaled back their spending on new buildings more than previously estimated and imports rose, rather than fell, in the April-June quarter. Home building and renovations weighed on the economy in the second quarter, but sales and construction of new homes has been healthy in recent months.

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BING NEWS:
  • Commentary: China’s GDP grew more than expected, but is its data reliable?
    China posted stellar economic growth in the first quarter of the year, but one good quarter does not erase its deflation woes, says Coface chief APAC economist Bernard Aw.
    04/28/2024 - 11:00 pm | View Link
  • Wolf in sheep's clothing: Soft GDP hides surging spending
    Real GDP grew at only a 1.6% annualized pace in Q1, held back by trade and inventories. Consumer spending in the service sector is not slowing, in fact, it is ramping up at a rate seldom seen in the ...
    04/25/2024 - 2:55 am | View Link
  • US economy grew by just 1.6% in the first quarter, a much slower pace than expected
    It was the weakest pace of growth since the second quarter of 2022 when the economy contracted. That’s a steep slowdown from the fourth quarter’s 3.4% rate and also below the 2.2% rate ...
    04/25/2024 - 1:35 am | View Link
  • U.S. economy grew at 1.6 percent annual rate in first quarter 2024, a sharp slowdown
    U.S. economic growth slowed in the first three months of the year, with gross domestic product growing at an annualized rate of 1.6 percent, as consumers began gradually pulling back. GDP was down ...
    04/25/2024 - 12:42 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 - 10:43 pm | View Link
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