man with a paper bag of groceries looks surprised and upset at a receipt from a supermarket with high prices against the background of an escalator with customers in the shopping center US Economy Slows, and Inflation Jumps, Damping Soft-Landing Hopes was the headline on Bloomberg . https://www.bloomberg.com/news/articles/2024-04-25/us-economy-expands-at-1-6-rate-trailing-all-forecasts
We learned: GDP advances an annualized 1.6%, slower than all projections
First-quarter core inflation measure accelerates to 3.7% rate
“US economic growth slid to an almost two-year low last quarter while inflation jumped to uncomfortable levels, interrupting a run of strong demand and muted price pressures that had fueled optimism for a soft landing.Gross domestic product increased at a 1.6% annualized rate, below all economists’ forecasts, the government’s initial estimate showed. The economy’s main growth engine — personal spending — rose at a slower-than-forecast 2.5% pace. A wider trade deficit subtracted the most from growth since 2022.”Bidenonomics is not working. But […]
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