U.S. economic growth slowed in the first 3 months of 2024, falling short of forecasts

U.S. economic growth slowed more than expected in first quarter of 2024, the government reported on Thursday.

The figures published by the bureau of Economic Analysis showed gross domestic product rose at a 1.6% annualized clip during the first three months of the year, after increasing 3.4% in the fourth quarter of 2023.

The consensus among economists surveyed by FactSet was that gross domestic product grew at a 2.2% rate last quarter, down from a revised 3.4% in the last three months of 2023.

— This is a developing story.

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