GDP Shows Economy Slowing in First Quarter of 2023

Economic momentum is slowing, amid higher interest rates and a banking crisis, new gross domestic product report shows. The U.S. economy wobbled in the first months of 2023. But no worries, the Democrat media axis will cheer on these Biden ‘successes.’

There is very little growth in the Biden Administration’s putrid economy. The American economy grew at 1.1 percent in Q1 of 2023. By contrast, Communist China’s economy grew by 4 percent in the same period.

GDP growth shows slowing economy in the first quarter of 2023

By Fox News, April 28, 2023

Gross domestic product (GDP) increased in the first quarter of 2023, beating the odds of a recession yet again, according to the Bureau of Economic Analysis (BEA).

Real GDP increased at an annual rate of 1.1% in the first three months of this year, after rising 2.6% in the fourth quarter of 2022, according to the BEA’s advance estimate released on Thursday.

The increase in real GDP was driven by consumer spending, exports, federal government spending, state and local government spending, and nonresidential fixed investment, the BEA reported. Growth in the first quarter was offset by a slowdown in new single-family home construction and private inventory investment, the BEA said.

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