{"id":2229866,"date":"2024-04-25T08:50:02","date_gmt":"2024-04-25T12:50:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gdp-grew-at-1-6-rate-in-the-first-quarter-lower-than-expected\/"},"modified":"2024-04-25T08:58:23","modified_gmt":"2024-04-25T12:58:23","slug":"gdp-grew-at-1-6-rate-in-the-first-quarter-lower-than-expected","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gdp-grew-at-1-6-rate-in-the-first-quarter-lower-than-expected\/","title":{"rendered":"In Q1, GDP growth was 1.6%, below projections"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgdp-grew-at-1-6-rate-in-the-first-quarter-lower-than-expected%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2229866&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The article discusses\u2063 the economy&#8217;s 1.6% \u2063growth in the first quarter, challenging \u200bexpectations\u200c amid high Federal Reserve interest rates. These figures, adjusted for\u2062 inflation,\u200b were recently released. \u2063The theme\u200d suggests resilience and potential divergence from economists&#8217; forecasts, prompting\u200b further\u200c exploration by \u200bclicking &#8220;Read more&#8230;&#8221; for additional insights. The article highlights the\u200b economy&#8217;s\u2063 unexpected \u20621.6% growth in the first quarter, defying projections despite heightened Federal Reserve interest rates. Newly disclosed data, adjusted for inflation, hint at resilience and a possible deviation from economists&#8217; expectations. Readers are encouraged to delve deeper by clicking &#8220;Read more&#8230;&#8221; for further elucidation.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div data-td-block-uid=\"tdi_78\">\n<p>The <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/economy\" target=\"_blank\" rel=\"noreferrer noopener\">economy<\/a> expanded at a 1.6% seasonally adjusted annual rate in the first quarter of this year, showing some underlying momentum despite <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/turkeys-lira-sinks-again-as-erdogan-cites-islamic-sharia-law-to-defend-economic-management\/\" title=\"Turkey\u2019s Lira Sinks Again as Erdogan Cites Islamic Sharia Law to Defend Economic Management\">high interest rates<\/a> from the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/federal-reserve\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Reserve<\/a>.<\/p>\n<p>The new figures, which are adjusted for <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/inflation\/\" target=\"_blank\" rel=\"noreferrer noopener\">inflation<\/a>, were published Thursday by the Bureau of Economic Analysis in its report for <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/gdp\" target=\"_blank\" rel=\"noreferrer noopener\">gross\u00a0domestic\u00a0product<\/a>. Economists had expected GDP growth to increase by 2.5%, so the reading is worse than anticipated.<\/p>\n<p>Thursday\u2019s report is the first of three estiamtes that will be made over the coming months as analysts get a better picture of how the economy performed during the third quarter.<\/p>\n<p>The new first quarter numbers mark a slowdown from the preceding quarter. GDP growth in the fourth quarter came in at a 3.4% seasonally adjusted annual rate, showing the economy ended 2023 on stronger footing than previously realized.<\/p>\n<p>Additionally, the economy expanded a healthy 2.5% for all of 2023.<\/p>\n<p>The Federal Reserve hiked interest rates to multi-year highs in response to the country\u2019s too-high inflation. Higher rates typically cause economic output to dampen and can cause GDP to crater. The positive GDP numbers have given the Fed some ammunition to keep rates higher for longer.<\/p>\n<p>Also giving the Fed confidence to maintain its higher interest rate posture is the country\u2019s remarkably resilient labor market. For instance, the economy added 236,000 jobs in March, according to the Bureau of Labor Statistics.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/strong><\/a><\/p>\n<p>The Fed\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/how-the-government-is-distorting-the-housing-market\/\" title=\"How The Government Is Distorting The Housing Market\">interest rate target<\/a> is now at 5.25% to 5.50%, a level where it has been since July.<\/p>\n<p>Just a few months ago in December, investors were pricing in up to six <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-rose-slightly-to-2-5-in-february-in-gauge-preferred-by-fed\/\" title=\"In February, inflation ticked up to 2.5% based on the Fed's preferred measure\">downward rate revisions<\/a> in 2024. Now, investors aren\u2019t expecting a rate cut until the summer, perhaps in September, according to the CME Group\u2019s FedWatch tool, which calculates the probability using futures contract prices for rates in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/powell-set-to-testify-before-congress-heres-what-to-expect\/\" title=\"Powell set to testify before Congress \u2014 here's what to expect\">short-term market targeted<\/a> by the Fed.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the first quarter, the economy saw a 1.6% annual growth rate, indicating resilience despite Federal Reserve interest rate hikes. Adjusted for inflation, the new figures, released by the Bureau of Economic Analysis, revealed GDP data diverging from economists&#8217; projections<\/p>\n","protected":false},"author":2683,"featured_media":2229867,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/01\/construction-work-1024x591.jpg","fifu_image_alt":"In Q1, GDP growth was 1.6%, below projections","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2229866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/01\/construction-work-1024x591.jpg","fifu_image_alt":"In Q1, GDP growth was 1.6%, below projections","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2229866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2683"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2229866"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2229866\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2229867"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2229866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2229866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2229866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}