The U.S. economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022. The first
quarter's GDP growth marked a sharp pullback from a strong 3.4% pace during the final three months of 2023. Still, the report showed that the
January-March slowdown was caused mainly by two factors - a surge in imports and a drop in business inventories - that can bounce around
from quarter to quarter and don't necessarily reflect the underlying health of the economy.
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