The U.S. economy only grew 0.5% in the first quarter of the year. Tepid consumer spending, global headwinds, a struggling manufacturing sector and weak business investment all weighed down growth.
It’s the lowest print in two years for U.S. GDP, or gross domestic product, the broadest measure of economic activity.
“The economy is hanging by a thread here…there’s really no growth,” says Stephen Kalayjian, chief market strategist at KnowVera, a market research firm.
