It’s low
Horsley 4-27 [Scott; NPR's Chief Economics Correspondent. He reports on ups and downs in the national economy as well as fault lines between booming and busting communities; 4-27-2023; "The U.S. economy is losing steam. Bank woes and other hurdles are to blame."; NPR; https://www.npr.org/2023/04/27/1171993308/economy-gdp-growth-recession-mcdonalds;]//LASA-بيلال
From banks to burger joints, the U.S. economy is showing signs of stress as nervous shoppers watch their spending and anxious lenders keep a tight grip on credit.
A report from the Commerce Department Thursday shows the nation's gross domestic product grew at an annual rate of just 1.1% in the first three months of the year, compared to a 2.6% pace in the previous quarter. Growth was weighed down by declining inventories and housing investment.
The economy is projected to lose more steam in the months to come as rising prices and higher interest rates take a toll on families and businesses.
"Our base expectation is for a mild recession in the U.S.," McDonald's CEO Chris Kempczinski said this week.