US Economic Growth Slower Than First Thought

The U.S. says that its economy grew at an annual pace of 1.8 percent in the first three months of the year, sharply lower than first thought.

Earlier, the government had estimated that its economic output advanced by 2.4 percent in the January-to-March period. But on Wednesday, the Commerce Department said that consumers spent less than previously estimated and that both imports and exports fell early in the year. Government spending throughout the country also dropped.

The latest report on …

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