Growth Freezes Up as U.S. Business Spending Slumps: Economy

The harsh winter sent a chill through the U.S. economy in the first quarter as slumps in business investment and home construction stalled growth.

Gross domestic product grew at a 0.1 percent annualized rate from January through March, compared with a 2.6 percent gain in the prior quarter, figures from the Commerce Department showed today in Washington. American consumers were a lone bright spot as households spent more to heat their homes and access health care.