The US economy slowed in the first three months of the year, as businesses reduced investments in the face of higher borrowing costs.
The economy grew 1.1% on an annualised basis, the Commerce Department said.
That was down from a rate of 2.6% in the prior quarter, despite strong consumer spending.
Analysts are watching nervously to see how the world’s largest economy handles a mix of higher interest rates and rising prices.
Read more at BBC.com
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