U.S. Economy Faces Slowdown and Rising Inflation in Early 2024
In early 2024, the U.S. economy significantly slowed, with GDP growth dropping to just 1.6% in the first quarter from 3.4% in the preceding quarter. The U.S. Bureau of Economic Analysis BEA attributed the decline to reduced consumer spending, exports, and government investments. This downturn reflects significant cutbacks across various sectors of the economy. Simultaneously, […]