The first quarter of 2024 saw the U.S. economy experience a slowdown, with economic growth falling more than expected, according to a report from the government. The figures from the bureau of Economic Analysis revealed that gross domestic product increased at a rate of 1.6% on an annualized basis during the first three months of the year, which was a decline from the 3.4% growth seen in the fourth quarter of 2023. This unexpected slowdown has raised concerns among economists and policymakers as they analyze the factors contributing to this decline.
Economists surveyed by FactSet had predicted a growth rate of 2.2% for the last quarter, a decrease from the revised 3.4% growth in the previous three months. The developing story highlights the fluctuations in the U.S. economy, with Kate Gibson, a reporter for CBS MoneyWatch in New York, providing updates on this evolving situation.
The figures released by the bureau of Economic Analysis provide valuable insights into the state of the U.S. economy and will shape future economic policies and decision-making processes.
Stay tuned for more updates on this evolving story as experts continue to study and interpret the data to understand its implications for
