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This is far less than the 3.4% result from the previous quarter and far below the 2.4% prediction of analysts surveyed by the Wall Street Journal.
The study states that Americans continue to spend a lot of money on insurance, financial services, and health care. Nevertheless, consumer expenditure declined significantly, mostly on new and maintenance for cars, and a spike in imports reduced GDP growth by 1%.
The annual inflation rate in the United States increased from 3.2% to 3.5% at the end of March, according to data released earlier by the U.S. Labor Department. Prices grew by 0.4% on a monthly basis, compared to the 0.3% monthly inflation rate that economists had predicted.
source: wsj.com
The study states that Americans continue to spend a lot of money on insurance, financial services, and health care. Nevertheless, consumer expenditure declined significantly, mostly on new and maintenance for cars, and a spike in imports reduced GDP growth by 1%.
The annual inflation rate in the United States increased from 3.2% to 3.5% at the end of March, according to data released earlier by the U.S. Labor Department. Prices grew by 0.4% on a monthly basis, compared to the 0.3% monthly inflation rate that economists had predicted.
source: wsj.com
