America's economic growth slowed at the beginning of 2018 as household spending stalled in spite of recent tax cuts. The US economy grew at a rate of 2.3% in the first quarter, according to the Commerce Department's preliminary report on Friday. Last quarter, spending grew at a robust 4% clip. "I think the fundamentals for consumer spending growth in the rest of 2018 are very good. We have good job growth and wage growth is accelerating, plus tax cuts are boosting paychecks."

Source: CNN April 27, 2018 12:42 UTC