CNN’s Romans: U.S. Economy Grew at 1.1% in Q1, Lower than Expected

COLLINS New numbers that ░░░░░░░░ released just moments ago ░░░░░░░░ Gross Domestic Product report ░░░░░░░░ the first quarter of ░░░░░░░░ year CNN s Chief ░░░░░░░░ Correspondent Christine Romans is ░░░░░░░░ She s been tracking ░░░░░░░░ numbers What does it ░░░░░░░░ us ROMANS Well this ░░░░░░░░ the rearview mirror but ░░░░░░░░ shows us the first ░░░░░░░░ months of the year ░░░░░░░░ economy slowed a little ░░░░░░░░ Kaitlan 1 1 percent ░░░░░░░░ the growth here in ░░░░░░░░ U S economy in ░░░░░░░░ February and March And ░░░░░░░░ can see how that ░░░░░░░░ how that is a ░░░░░░░░ from the last quarter ░░░░░░░░ last year which was ░░░░░░░░ 6 percent and certainly ░░░░░░░░ the middle of last ░░░░░░░░ which was a strong ░░░░░░░░ 2 percent So this ░░░░░░░░ a slowdown What s ░░░░░░░░ here You ve got ░░░░░░░░ inflation still it s ░░░░░░░░ off the boil of ░░░░░░░░ summer but inflation is ░░░░░░░░ too high here and ░░░░░░░░ ve got interest rates ░░░░░░░░ have been going up ░░░░░░░░ a year now So ░░░░░░░░ think this is what ░░░░░░░░ looks like when you ░░░░░░░░ those interest rates so ░░░░░░░░ for over a year ░░░░░░░░ the government says there ░░░░░░░░ an increase in consumer ░░░░░░░░ So the consumer is ░░░░░░░░ strong in the first ░░░░░░░░ of the year but ░░░░░░░░ decrease in inventory builds ░░░░░░░░ inventory investments that s ░░░░░░░░ cautious and pulling back.”