U.S. GDP Growth Stumbles to 1.6% in Q1, Missing Economic Forecasts The U.S. economy started the year on a weaker note than anticipated, with the GDP growth rate decelerating to 1.6% in the first quarter, as reported by the Commerce Department. This figure significantly undershot the 2.4% growth economists had projected based on surveys by Dow Jones. The Gross Domestic Product (GDP), which gauges the total output of goods and services, showed a marked slowdown from the 3.4% increase in the final quarter of 2023 and the 4.9% rise in the quarter before that. While consumer spending did grow by 2.5%, it was less robust compared to the 3.3% increase in the previous quarter and also fell short of the 3% expected by Wall Street analysts.
https://www.cnbc.com/2024/04/2....5/gdp-q1-2024-increa