U.S. economy grows slower than expected in Q1 of 2024, logs slowest pace since 2022

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U.S. economy grows slower than expected in Q1 of 2024, logs slowest pace since 2022

The U.S. economy grew slower than expected in the first three months of 2024. It expanded at an annual rate of 1.6 %, well below the 3.4% rate logged in the previous quarter and flagged as the slowest pace of growth since the first half of 2022, according to the latest Gross Domestic Product (GDP) data from the Commerce Department’s Bureau of Economic Analysis. The “advance” estimates show that compared to the previous quarter, the slowdown in Q…