The U.S. economy grew by an annualized rate of 1.6 percent in the first three months of the year, a sharp slowdown from the previous quarter’s growth rate of 3.4 percent, according to the Bureau of Economic Analysis’s measurement of gross domestic product, the sum of all of the goods and services produced in the country.

The state of the economy is seizing Americans’ attention as the election season has intensified. Although inflation has slowed, to 3.5 percent from

The United States economy slowed sharply last quarter to a 1.6 percent annual pace in the face of high interest rates

The US economy cooled more than expected in the first quarter of the year, but remained solid by historical standards. Economic growth has slowed steadily over the past 12 months, which bodes well for lower interest rates,

The U.S. economy grew at its slowest pace in nearly two years in the first quarter amid some moderation in consumer spending and a wider trade deficit, but an acceleration in inflation reinforced expectations that the Federal Reserve would not cut interest rates before September.