U.S. economy shrank by 1.5% in Q1 but consumers kept spending

THE FASTEST INFLATION in 40 years squeezed retailers during the first quarter, alarming investors worried about the broader economy's outlook. Earnings reports from Walmart, Target and Amazon this month showed higher costs are hurting retailers' operations. / NAM Y. HUH / ASSOCIATED PRESS
WASHINGTON (AP) – The U.S. economy shrank in the first three months of the year even though consumers and businesses kept spending at a solid pace, the government reported Thursday in a slight downgrade of its previous estimate for the January-March quarter.  Last quarter's drop in the U.S. gross domestic product — the broadest gauge…

Register to keep reading or subscribe today and receive unlimited access.
Register Now Already a Subscriber? Login now

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.

No posts to display