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US economy grew at weak 1.1% rate in Q1 in sign of slowdown

2 years 2 months ago
WASHINGTON (AP) — The U.S. economy slowed sharply from January through March, decelerating to just a 1.1% annual pace as higher interest rates hammered the housing market and businesses reduced their inventories. Thursday’s estimate from the Commerce Department showed that the nation’s gross domestic product — the broadest gauge of economic output — weakened after [...]
PAUL WISEMAN, Associated Press