WASHINGTON  – U.S. economic growth slowed more than expected in the first quarter as an acceleration in consumer spending was offset by businesses liquidating inventories in anticipation of weaker demand later this year amid higher borrowing costs. The first decline in private inventories in 1-1/2 years reported by the Commerce Department in its snapshot of first–quarter gross domestic product on Thursday is … Continue reading US economic growth slowed in Q1 as businesses draw down inventories