#US#economy grew at 1.6% annual rate in first quarter 2024, a sharp slowdown
“Growth is slowing, but clearly the economy is still on a solid path,” said Ben Ayers, snr economist at Nationwide, which recently scrapped its recession forecast for the year. “We’ve had very strong #job growth that’s fueling higher incomes, giving people the #money to go out & spend. But that’s also kept #inflation high, so honestly a little bit of cooling is good news.”
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