U.S. Economy Grew at 1.6% Rate in First-Quarter Slowdown

U.S. Economy Grew at 1.6% Rate in First-Quarter Slowdown

The U.S. economy remained robust earlier this year, with a strong labor market leading to robust consumer spending. The problem is that inflation has also been resilient. Inflation-adjusted gross domestic product rose 1.6 percent annually in the first three months of the year, the Commerce Department said Thursday. That was a significant decline from the…

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