Growth Slows Sharply Last Quarter to 1.6 Percent Pace, Reflecting an Economy Pressured by High Rates
The state of the economy is seizing Americans’ attention as the election season has intensified. Although inflation has slowed, to 3.5 percent from 9.1 percent in 2022, prices are well above their pre-pandemic levels.
WASHINGTON — The nation’s economy slowed last quarter, growing at an annual rate of 1.6 percent in a sign that the high interest rates may be taking a toll on borrowing and spending.
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