Commerce Department – Page 6 – One America News Network

US economic growth slows in first quarter; inflation surges

he U.S. economy grew at its slowest pace in nearly two years as a jump in imports to meet still-strong consumer spending widened the trade deficit.

U.S. prices increased less than expected, with the cost of services outside housing and energy slowing significantly.

The U.S. was boosted by strong consumer spending and business investment in nonresidential structures.

New home sales slipped 0.3% to a seasonally adjusted annual rate of 662,000 units last month.

Traders speculate on the Federal Reserve’s next move, predicting potential interest-rate cuts to address economic trends.

Economists cautioned the decline may be due to winter storms and technical factors.