April 29, 2017 11:06 AM

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US growth slid to its lowest level in 3 years in first quarter

US growth slid to its lowest level in three years in the first quarter, a disappointing start to Donald Trump's presidency as it reaches the 100 day mark. GDP increased 0.7 per cent in the first three months of the year as consumer spending and government expenditures tumbled to their lowest levels in years, the Commerce Department reported yesterday, presenting preliminary data. <br/><br/>Though only slightly below the 0.8 per cent increase in the same quarter of last year, the result was down sharply from the 2.1 per cent expansion seen in the fourth quarter of 2016. It was well below analysts' expectations of 1.1 per cent GDP growth. The last time first quarter expansion was more disappointing was a 1.2 per cent drop in 2014.

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