Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
The US GDP grew at a slower-than-expected rate of 1.6% in the first quarter, below economists' estimates of 2.4%, marking its slowest pace in nearly two years. This led to Wall Street stocks closing lower as investors were surprised by the weak economic growth and persistent inflation. However, a rally in megacap growth stocks, fueled by robust quarterly results from Alphabet and Microsoft, helped lift US stocks higher in subsequent sessions, resulting in the best week for US stocks since November.
The US economy grew at its slowest pace in nearly two years last quarter. The BEA's advance estimate of Q1 US GDP showed the economy grew at an annualized pace of 1.6% during the period, missing the 2.5% growth expected by economists. https://t.co/oNIgq6cUNB
🇺🇸 U.S. ECONOMIC GROWTH SLOWS, INFLATION RISES IN Q1 2024 The U.S. economy expanded at a 1.6% annualized rate in Q1 2024, below the expected 2.5% and a decrease from 3.4% in Q4 2023, according to the Bureau of Economic Analysis. Key factors include slowdowns in consumer…
US GDP expanded at an annual rate of 1.4% in the first quarter of 2024, slower than expected and much lower than the 3.4% growth seen in the fourth quarter of 2023. https://t.co/kb2rqdrbaU
