Real GDP expanded by 1.6% quarter-over-quarter (q/q, annualized) in the first quarter of 2024 – below the consensus forecast of 2.5%. Consumer spending expanded by 2.5% – a modest deceleration from last quarter’s 3.3% gain. Service spending (+4.0%) accounted for all of last quarter’s gain, while spending on goods (-0.4%) was flat. Non-residential business investment […]
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