US Economic Growth Falls Below Expectations at 1.6% in 2024 Q1

Thursday, 25 April 2024, 12:36

The latest US economic growth data revealed a slowdown in growth to 1.6% during the first quarter of 2024, below the 2.2% forecast. This dip follows a robust 4.9% growth rate in the third quarter of 2023, suggesting a shift. The rise in inflation and potential Fed rate cuts indicate a delicate balance for the economy's future.
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US Economic Growth Falls Below Expectations at 1.6% in 2024 Q1

US Economic Growth Update

U.S. economic growth slipped below 2 percent in the first quarter of 2024, marking a notable decline from previous quarters. The latest GDP figures showed an annualized rate of 1.6 percent, lower than expected.

Concerns and Indicators

  • Inflation: Inflation increased slightly to 3.5 percent year-over-year in March, affecting consumer prices.
  • Job Market: The job market added 303,000 jobs recently, maintaining a low unemployment rate.
  • Economic Outlook: Economists debate the potential need for Fed rate adjustments amidst changing economic conditions.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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