Investors are gearing up for bad news on the economy, with the latest GDP reading expected to show US economic growth plunged to 1.1 % in the first three months of the year
New York .
America's economic activity, measured by gross domestic product, is forecast to have only grown at an annualized pace of 1.1% in the first quarter of the year, according to consensus expectations from Refinitiv. The Federal Reserve Bank of Atlanta's GDPNow model forecasts a seasonally adjusted annualized growth rate of only 0.4% as of Wednesday -- a drop from 1.3% as of mid-April.If either forecast proves correct, it would be a steep drop compared with the 6.
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