The US economy slowed in the first quarter of the year, according to figures released today, just hours after the Federal Reserve voted with caution and kept rates steady.

US economic growth slowed to an annual pace of 0.5 percent during the first three months of the year, a sharp drop from the 1.4 percent seen in the last quarter of 2015.

Gross domestic product rose at an annual pace of 0.5 per cent in the first quarter, slower than the 0.7 percent estimated by analysts. Household spending, a key driver of US growth, slowed to 1.9 per cent growth in the first quarter from 2.4 per cent previously.

28/04/2016