Current location:Cosmic Chronicle news portal > politics
US growth likely slowed last quarter but still pointed to a solid economy
Cosmic Chronicle news portal2024-04-25 21:53:01【politics】5People have gathered around
IntroductionWASHINGTON (AP) — Coming off a robust end to 2023, the U.S. economy is thought to have extended its
WASHINGTON (AP) — Coming off a robust end to 2023, the U.S. economy is thought to have extended its surprisingly healthy streak at the start of this year, with consumers still spending freely despite the pressure of high interest rates.
The Commerce Department is expected to report Thursday that the gross domestic product — the economy’s total output of goods and services — grew at a slow but still-decent 2.2% annual pace from January through March, according to a survey of forecasters by the data firm FactSet.
Some economists envision a stronger expansion than that. A forecasting model issued by the Federal Reserve Bank of Atlanta points to a first-quarter annual pace of 2.7%, propelled by a 3.3% increase in consumer spending, the principal driver of economic growth.
Either way, the economy’s growth is widely expected to have decelerated from the vigorous 3.4% annual pace of October through December. The slowdown reflects, in large part, the much higher borrowing rates for home and auto loans, credit cards and many business loans that have resulted from the 11 interest rate hikes the Federal Reserve imposed in its drive to tame inflation.
Address of this article:http://qomyqacaxyzutume.allesfuersjagen.com/texas-the-state-of-civil-rights-ten-years-later-1968-1978-book-464ob.php
Very good!(534)
Related articles
- What it's REALLY like to win the Lottery... by a couple who banked £2.2m
- Acrobatic rendition of The Swan Lake staged in Fuzhou
- Zoom in on beautiful Fenghuang Town
- Snow scenery of Xuexiang National Forest Park in Heilongjiang
- Climate change is bringing malaria to new areas. In Africa, it never left
- Scenery of Xiezi Mountain in China's Shandong
- Autumn scenery at Summer Palace in Beijing
- Xi Sends Congratulatory Letter to General Assembly of Alliance for Cultural Heritage in Asia
- New Jersey Democrat Rep. Donald Payne Jr. dies at 65 after heart attack
- Giant panda activities frequently captured at a nature reserve in SW China
Popular articles
Recommended
Surging auto insurance rates squeeze drivers, fuel inflation
Birds forage at beach in Kuwait City
Peng Liyuan Meets Brazilian First Lady
Xi Extends Congratulations to Yunnan University on Centenary Anniversary
Rangers star Corey Seager hit by pitch, leaves game because of shin contusion
Azalea flowers enter blooming season in Guizhou, SW China
Tourism in Tibet expected to witness notable boom
Museum of Natural Sciences in Brussels opens one
Links
- Atletico dealt Depay injury blow for Dortmund clash
- Abu Dhabi welcomes more MICE visitors from China
- An Algerian reporter says he was expelled from his country without explanation
- Deep sea expedition uncovers more than 50 never
- Shandong city seeks to capitalize on barbecue fame
- Tsinghua art and science symposium explores future trends, presents awards
- Dallas TikTok star Camryn Herriage speaks for the first time after hit
- Coachella food prices SHOCK fans as festival
- Aroma of Chinese Lamian noodles wafts to Belt and Road countries
- Chinese tourists flock to savor trendy immersive experiences