Real GDP contracted by 1.4% quarter-over-quarter (q/q) in the first quarter of 2022 – a significant slowdown from Q4’s 6.9% (annualized).The reading came in below the consensus forecast, which called for a modest gain to 1.0% q/q. Consumer spending grew by a healthy 2.7% – up from last quarter’s 2.5%. Spending on services (4.3%) and […]
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