US economic growth slows to 0.2% in Q1
The deceleration in US economic growth was attributed to lower exports linked to a stronger dollar as well as slower growth in major overseas economies, especially in Asia.
The report showed that consumer spending slowed to 1.9% in the first quarter compared with a gain of 4.4% in the last quarter of the previous year. The country’s exports fell 7.2% after growing 4.5% in the previous quarter while imports rose 1.8% compared with 10.4% in the same period of 2014.
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