U.S. Economy Grew At 1.6% Rate In Q1
The slowdown comes at the same time that the Federal Reserve's efforts to combat inflation have stalled.
The slowdown comes at the same time that the Federal Reserve's efforts to combat inflation have stalled.
Economic growth surpasses forecasts, consumer spending remains strong, and housing market outlook brightens.
Elevated mortgage rates and home prices will continue to limit housing activity.
According to Fannie Mae's ESR Group, housing and mortgage markets are not expected to recover until 2024.
The Bureau of Economic Analysis' original estimate was 2.6%.
Rapid rising rates are contributing to negative GDP growth.
Residential spending and business spending remain strong