U.S. GDP Growth Accelerates in Q1, Driven by Business Investment and Consumer Spending
The U.S. GDP grew at an annualized rate of 2.0% in Q1, up from 0.5% in Q4, driven by strong business investment in AI and R&D. Consumer spending contributed 1.6% growth, with declines in nondurable goods offset by gains in durables and services. Business investment, particularly in equipment and software, significantly boosted GDP growth.
Topics: AI business investment consumer spending economic uncertainty GDP growth stock market performance