US economy turns in weakest quarterly performance in three years

The US economy turned in the weakest performance in three years in the January-March quarter as consumers sharply slowed their spending. The result repeats a pattern that has characterized the recovery: lacklustre beginnings to the year.

The Commerce Department says the gross domestic product, the total output of goods and services, grew by just 0.7% in the first quarter following a gain of 2.1% in the fourth quarter. The slowdown primarily reflected slower consumer spending..Read more HERE