WASHINGTON, April 28 - U.S. economic growth braked sharply to its slowest pace in two years as consumer spending softened and a strong dollar continued to undercut exports, but a pick-up in activity is anticipated given a buoyant labor market.
Gross domestic product increased at a 0.5 percent annual rate, the slowest since the first quarter of 2014, the Labor Department said on Thursday in its advance estimate, also as businesses doubled down on efforts to reduce unwanted merchandise clogging up warehouses.
12:23 Sterling volatile as market speculates on ‘hard Brexit’; investors await May's speech10
01:03 Sterling slides to three-month lows on 'hard Brexit' fears10
22:15 Sterling skids on Brexit anxiety; investors hope for Donald Trump clarity12
15:04 Hoping to save a 20 percent down payment? It's a big chunk of change14