Economic Watch: U.S. economy slows as inflation still remains high
by Matthew Rusling
WASHINGTON, April 25 (Xinhua) -- The growth of U.S. gross domestic product (GDP) slowed significantly in the first quarter amid stubborn inflation that shows no sign of abating.
The economy slowed more than analysts expected in the year's first quarter with decelerations in consumer spending, exports, and government spending.
GDP, the measure of all goods and services produced in