The US economy grew by 1.6% in the first quarter of 2024 compared to 2.5% expected by analysts. The latest GDP number comes after the revised 3.4% print of Q4 2023.
US stock indexes extended their declines and government bonds came under pressure after data was released. Bitcoin is down 1.30% in the last hour, Ethereum is also declining by 1.70% and Solana is currently seeing a drop of 4.70%.
Quarter | GDP Growth |
Q3 2023 | 4.9% |
Q4 2023 | 3.4% |
Q1 2024 | 1.6% |