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US growth slowed sharply in first quarter to 1.6% pace

By Inquirer - 7 months ago
WASHINGTON  — The nation’s economy slowed sharply last quarter to a 1.6 percent annual pace in the face of high-interest rates, but consumers — the main driver of economic growth — kept spending at a solid pace. Thursday’s report from the Commerce Department said the gross domestic product — the economy’s total output of goods

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