economy
April 30, 2026
GDP rose at 2% annual rate in first quarter as U.S. economy rebounds
April 30, 2026 / 9:40 AM EDT / CBS News
TL;DR
- U.S. economy grew at a 2% annual rate in Q1 2026, below forecasts of 2.2%.
- Business investment rose 8.7% annually, driven by the AI boom.
- Consumer spending slowed slightly to 1.6% from 1.9% in Q4 2025.
- The Iran war has caused energy prices to skyrocket, with gasoline hitting $4.30/gallon.
- Inflation increased at a 3.2% annual rate, exceeding the Fed's 2% target.
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