US economic growth is expected to have slowed sharply in the first quarter amid growing trade imbalances and rising inflation, but the deceleration is unlikely to alter the Federal Reserve’s course.
Economists forecast a 1 per cent advance in US gross domestic product on an annualised basis in the first quarter, according to Bloomberg data, down sharply from the 6.9 per cent rise recorded in the fourth quarter of 2021.
That would mark the slowest pace of growth since mid-2020, when Covid-19 lockdowns had curtailed economic activity, and would translate to a 0.2 per cent rise compared with the previous quarter, based on a measure used by other major economies.
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