US growth likely slowed last quarter but still pointed to a solid economy

The U.S. economy is thought to have extended its surprisingly healthy streak at the start of this year, with consumers still spending freely despite the pressure of high interest rates. The government is expected to report that the gross domestic product grew at a slow but still-decent 2.2% annual pace from January through March. Some economists envision a stronger expansion than that. A forecasting model issued by the Federal Reserve Bank of Atlanta points to a first-quarter annual pace of 2.7%, propelled by a 3.3% increase in consumer spending, the principal driver of economic growth. Either way, the economy’s growth is widely expected to have decelerated from the vigorous 3.4% annual pace of October through December.