New data shows US economy slowed significantly in the first quarter

SALT LAKE CITY — The latest assessment of U.S. economic growth came up short of expectations on Thursday, fueling further predictions that a recession looms on the near-term horizon. The Commerce Department's Bureau of Economic Analysis found the country's real gross domestic product output for the first quarter of 2023 grew at an annual rate of 1.1%, well short of the expected 2% and down from the 2.6% rate of 2022's fourth quarter. Robust consumer spending helped drive growth over the last three months but a suppressed housing market and...