US economy slows and inflation jumps, damping soft-landing hopes
Personal spending rose slower-than-forecasted at 2.5%
US economic growth slid to an almost two-year low last quarter while inflation jumped to uncomfortable levels, interrupting a run of strong demand and muted price pressures that had fueled optimism for a soft landing. Gross domestic product increased at a 1.6% annualized rate, below all economists’ forecasts, the government’s initial estimate showed. The economy’s […]
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