Q1 GDP slows more than previously estimated as inflation concerns linger

U.S. gross domestic product (GDP) increased at an annual rate of 1.4% in the first quarter of 2024, data from the Bureau of Economic Analysis (BEA) found. This increase is a sign the economy is solid, but not growing at a substantial pace.This is a slight slowdown from the previously estimated 1.6% GDP increase for the first quarter. Last year, in the fourth quarter of 2023, GDP increased by 3.4%. Compared to last year, economic growth is slowing. The slowdown is largely due to more cautious con