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US Economy Growth slowed in Q1 of 2024
[BEA] Real gross domestic product (GDP) increased at an annual rate of 1.6 percent in the first quarter of 2024, according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2023, real GDP increased 3.4 percent.[This is an initial estimate. There will be adjustments. The next adjustment will be at the end of May.] Personal saving was $755.7 billion in the first quarter, compared with $815.5 billion in the fourth quarter. The personal saving rate; personal saving as a percentage of disposable personal income; was 3.6 percent in the first quarter, compared with 4.0 percent in the fourth quarter. [Unfortunately CPI growth isn't coming down quickly so this is unlikely to lead to a decrease in the Fed Fund rate in the near term] Posted by: Lord Garth 2024-04-26 |
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