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U.S. GDP Growth Slows in Q1 2024

Published on May 31, 2024

According to the Bureau of Economic Analysis, U.S. GDP growth for Q1 2024 was revised down from 1.6% to 1.3%. The change was driven by a revision to consumer spending growth (from 2.5% to 2.0%). This illustrates the effects of higher interest rates, waning consumer savings, and slower income growth. 

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