The US economy expanded by 1.1% in Q1, according to the latest US Bureau of Economic Analysis (BEA) data, missing expectations of 2%. The US economy grew by 2.6% in Q4 2022. According to the BEA, ‘Compared to the fourth quarter, the deceleration in real GDP in the first quarter primarily reflected a downturn in private inventory investment and a slowdown in non-residential fixed investment. These movements were partly offset by an acceleration in consumer spending, an upturn in exports, and a smaller decrease in residential fixed investment. Imports turned up.’
