From Wochit Business:
The U.S. economy grew at its weakest pace in three years in the first quarter. Consumer spending barely increased and businesses invested less on inventories during the time period. The news is a potential setback to President Donald Trump's promise to boost growth. Gross domestic product increased at a 0.7 percent annual rate, as the government also cut back on defense spending. The labor market is near full employment and consumer confidence is near multi-year highs, which suggests that the weather-induced sharp slowdown in consumer spending is probably temporary.
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