“US GDP Growth Slows Sharply, Settles at 1.1% in First Quarter 2023”

US growth fell to 1.1% in the first quarter, compared to 2.6% in the last three months of 2022.

By Le Figaro with AFP

Posted on 04/27/2023 at 2:50 p.m.update on 04/27/2023 at 14:59

The gross domestic product growth (GDP) of the United States slowed sharply in the first quarter, settling at 1.1%, under the effect of a drop in investments and despite a maintenance of household consumption, announced Thursday the Department of Trade.

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The US economy largely stepped on the brakes in the first three months of the year, compared to the previous quarter which saw growth of 2.6%, according to final data. It is also well below the expectations of analysts, who rather expected growth of 2% in the quarter, according to the consensus published by briefing.com.