Showing resilience in the face of higher interest rates, the U.S. economy grew at a 2% annual pace from January through March as consumers spent at the fastest pace in nearly two years.

WASHINGTON — The U.S. economy grew at a lackluster 1.3% annual rate from January through March as businesses wary of an economic slowdown trimmed their inventories, the government said.

WASHINGTON — The U.S. economy maintained its resilience from October through December despite rising interest rates, growing at a 2.6% annual pace. 

Shrugging off rampant inflation and rising interest rates, the U.S. economy grew at an unexpectedly strong 3.2% annual pace from July through September.

WASHINGTON — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.

WASHINGTON — The U.S. economy shrank at a 1.6% annual pace in the first three months of the year, the government reported June 29 in a slight downgrade from its previous estimate for the January-March quarter.

The U.S. economy shrank for the first time since 2020, reflecting an import surge tied to robust consumer demand. While the surprise contraction adds to political headaches for President Joe Biden, it’s unlikely to dissuade the Federal Reserve from hiking interest rates aggressively to combat inflation.

The U.S. economy ended 2021 by expanding at a brisk 7% annual pace from October through December, the government reported Feb. 24 in a slight upgrade from its earlier estimate as businesses stepped up their restocking of supplies.

U.S. economic growth accelerated by more than forecast in the fourth quarter, fueled by the rebuilding of inventories and capping the strongest year since the 1980s.

U.S. economic growth slowed more than expected in the third quarter to the softest pace of the pandemic recovery period as snarled supply chains and a surge in COVID-19 cases throttled spending and investment.