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US: Economic growth slows down in Q1 of 2015

  • The US economy slowed down to a growth rate of 0.2% in the first quarter of 2015, official data show.

    The figures are much lower than expected as analysts had forecast a 1% growth.

    The slow growth is attributed to a number of factors including a severe winter that hit consumer spending, low oil prices which forced energy firms to cut investments, and a strong dollar which affected exports.

    Experts say that the strike by dock workers also hampered growth.

    Tagged as: US economy, US growth, US economic growth, consumer spending, oil prices, strong dollar, business news