Why is it so difficult in the United States? GDP growth in the first quarter was disappointing, far lower than market expectations.
Data on Friday showed the U.S. economy slowed significantly in the first quarter as inflation rose and consumer and government spending cooled. According to preliminary estimates by the U.S. government, U.S. gross domestic product grew at an annual rate of 1.6%. The economy's main growth engine, the preliminary quarterly rate of real personal consumption expenditures, grew by 2.5%. In addition, a report released by the U.S. Bureau of Economic Analysis showed that the closely watched underlying inflation indicator (the preliminary annualized quarterly rate of the U.S. core PCE price index in the first quarter) rose by 3.7%, a higher-than-expected increase, marking the first quarterly growth in a year. .
