BUSINESS

U.S. Shows Slowdown In Economic Growth

The U.S. economy slowed in the first three months of the year as businesses reduced investments in the face of higher borrowing costs.

According to the Commerce Department, the economy grew 1.1 percent annually.

That was down from a rate of 2.6 percent in the prior quarter, despite strong consumer spending.

The latest report on gross domestic product showed the economy has now grown for three quarters in a row.

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Edited by Jesus Chan

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