(Washington) U.S. gross domestic product (GDP) growth slowed sharply in the first quarter, to 1.1%, as investment fell and consumption held steady households, the Commerce Department said Thursday.
The U.S. economy largely stepped on the brakes in the first three months of the year, compared to the previous quarter which saw growth of 2.6%, according to final data. It is also well below analysts’ expectations, which were rather expecting growth of 2% for the quarter, according to the consensus published by briefing.com.
