U.S. gross domestic product (GDP) growth slowed sharply in the first quarter, to 1.1%, driven by lower investment and despite household consumption holding up, the Commerce Department announced Thursday.
The US economy largely stepped on the brakes in the first three months of the year, compared to the previous quarter which saw growth of 2.6%, according to final data. It is also well below the expectations of analysts, who rather expected growth of 2% in the quarter, according to the consensus published by briefing.com.
