US economic growth falls short of expectations with 1.6 percent annualized gain ...Middle East

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US economic growth falls short of expectations with 1.6 percent annualized gain
U.S. economic growth dipped below 2 percent during the first quarter for the first time in more than a year and a half, according to a new government reading released Thursday. Gross domestic product (GDP) grew at an annualized rate of 1.6 percent during the first quarter of the year, according to the Commerce Department’s Bureau of Economic Analysis (BEA), lower than the 2.2 percent forecasted by economists. Since GDP growth came in at a surprisingly strong 4.9 percent rate during the third quarter of 2023, there has been a marked downward trend. That could be a positive sign for the Federal Reserve, which hopes the economy will stay strong, but not so strong that it keeps

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