Economics
U.S. Growth Is Boon for Trump But Details Show Broad Slowdown
- Underlying figures show weaker consumer, business spending
- Fed’s preferred core inflation gauge well below 2% target
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President Donald Trump was quick to tout the U.S. economy’s surprisingly strong upturn in the first quarter, but it still seems poised for a slowdown this year.
While gross domestic product surpassed all analyst expectations, kicking off the year with a 3.2 percent advance, more than half the gain came from the volatile trade and inventories components that may soon reverse.