The US economic growth rate plunged in the first quarter
CNN
America's economic growth slowed sharply in the first quarter of 2022, data from the Bureau of Economic Analysis showed Thursday.
The nation's gross domestic product -- the broadest measure of economic activity -- expanded at an annualized rate of just 1.4% between January and March.
That was a marked slowdown from the 6.9% growth pace recorded in the final quarter of last year, and the worst performance since the pandemic recession in the second quarter of 2020. Economists had predicted an annualized growth rate of 1.1%, according to Refinitiv.
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