US economy turns in weakest quarterly performance in three years
by Associated Press from on (#2MN2P)
- Commerce Department data shows first-quarter GDP growth of just 0.7%
- Analysts believe slowdown is temporary and economy will rebound
The US economy turned in the weakest performance in three years in the January-March quarter as consumers sharply slowed their spending. The result repeats a pattern that has characterized the recovery: lacklustre beginnings to the year.
Related: US economic growth falls to lowest rate since 2014 - business live
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