Live Breaking News & Updates on Own From The 1 Percentage Point Hit It Estimated In May Still

Still, the U.S. economy remains under pressure as the Federal Reserve raises interest rates to rein in inflation that’s running at a 40-year high. ....

United States , World Bank , District Of Columbia , Commerce Department , Federal Reserve , Ap News , Krhd 25 News , Kxxv 25 News , The Us Economy Shrank Ata 1 6 Annual Pace In First Three Months Of Year , He Government Reported Wednesday Ina Slight Downgrade From Its Previous Estimate For January March Quarter It Was The First Drop In Gross Domestic Product Broadest Measure Of Economic Output Since Second 2020 , N The Depths Of Covid 19 Recession , Nd Followeda Strong 6 9 Expansion In The Final Three Months Of 2021 Inflation Is Running At 40 Year Highs , Nd Consumer Confidence Is Sinking Last Month , He Commerce Department Had Pegged First Quarter Gdp Growth At 1 5 But On Its Third And Final Estimate Wednesday The Said Consumer Spending Which Accounts For About Two Thirds Of Economic Output Was Substantially Weaker Than It Calculated Earlier , Rowing Ata 1 8 Annual Pace Instead Of The 3 It Estimated In May That Was Partly Offset Bya Revision To Its Calculation Business Inventories Commerce Said Reduced Restocking Company Shelves Had Shaved Less Than 0 4 Percentage Points From First Quarter Growth , Own From The 1 Percentage Point Hit It Estimated In May Still , He Negative Gdp Number Probably Doesnt Signal The Start Ofa Recession , Nd Economists Expect Growth To Resume Later This Year The First Quarter Dip Doesnt Say Much About Underlying Health Of Economya Bigger Trade Deficit Reflecting Americans Appetite For Foreign Goods And Services Slashed 3 2 Percentage Points Off Change In January March Gdp Business Investment Grewa Healthy 5 Still , The Us Economy , Hich Has Enjoyeda Brisk Recovery From 2020s Short But Devastating Coronavirus Recession , S Under Pressure As The Federal Reserve Raises Interest Rates To Rein In Inflation Thats Running Ata 40 Year High Rebound Caught Businesses By Surprise , Nd An Unexpected Surge In Customer Orders Overwhelmed Factories , Orts And Freight Yards , Eading To Shortages , Elays And Higher Prices In May , Onsumer Prices Rose 8 6 Froma Year Earlier ,