US Consumer Confidence Rises, GDP Growth Cools, Construction Spending Falls, and Consumer Spending Rebounds on Nostr: US Economy Grows at Slowest Rate Since Spring 2022, Impacted by Reduced Consumer ...

US Economy Grows at Slowest Rate Since Spring 2022, Impacted by Reduced Consumer Spending and Higher Interest Rates
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#fdaae6e6 ver:0.36

The US economy grew at a slower pace in Q1 2024, impacted by reduced consumer spending and higher interest rates. Despite this, economists predict growth to pick up in Q2 with an estimated annual growth rate of around 2%. The availability of more workers, particularly in low-wage jobs, can help limit wage-driven inflation. Retail sales have remained strong, with core retail sales increasing by 3.8% YoY. The National Retail Federation forecasts retail sales to grow between 2.5% and 3.5% in 2024. Despite global economic challenges, the US retail sector remains resilient. #USeconomy #economicgrowth #consumer spending #interestrates #inflation #retailsales...

#newstr #UsEconomy #EconomicGrowth #ConsumerSpending #InterestRates #Gdp #Imports #Inventories #Economists #FederalReserveBankOfAtlanta

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