U.S. economy grew 2.3% in Q1
That's slower than the 2.9% pace in the fourth quarter of 2017.
Consumer spending, which accounts for more than two-thirds of the economy, eased to a 1.1% rate last quarter, its weakest in nearly five years.
Last quarter, spending grew at a robust 4% clip. Economists believe it jumped toward the end of last year in anticipation of tax cuts and as hurricane-damaged areas of the country spent more to replace cars and trucks. ■