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With the release of the March quarter U.S. national accounts, it was revealed that the U.S. economy expanded by 2.0% on an annualised basis in the first three months of the calendar year.
While this level of growth is not especially swift compared with historical norms, it also masked vast differences in performance across different elements of the U.S. economy.
Finance and economics news website Investing Live noted on social media that around 1.5 percentage points of the 2.0 percentage points of growth stemmed from capital expenditure dedicated to AI.
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About the author
Tarric is an Australian freelance journalist and independent analyst who covers economics, finance, and geopolitics. Tarric is the author of the Avid Commentator Report. His works have appeared in The Washington DC Examiner, The Spectator, The Sydney Morning Herald, News.com.au, among other places.