Washington D.C., June 27, 2024 – The US economy grew at a sluggish 1.4% annual rate in the first quarter of 2024, according to the Bureau of Economic Analysis’ latest estimate. This marks a significant deceleration from the robust 3.4% growth recorded in the previous quarter. This is the third estimate for Q1 GDP, incorporating more comprehensive data than previous releases. Upward revisions to nonresidential fixed investment and government spending were partially offset by a downward revision to consumer spending. The downward revision to GDP growth highlights potential headwinds for …
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