High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our T&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. https://www.ft.com/content/09e66110-32d9-3d05-979b-8f87e39d5700 US economic growth slowed in the first three months of this year to the lowest rate since 2014, sharpening the challenge for the Trump administration to meet its promise to stoke a far higher level of expansion for the world’s biggest developed economy. Sample the FT’s top stories for a week You select the topic, we deliver the news. Select topic Enter email address Invalid email Sign up By signing up you confirm that you have read and agree to the terms and conditions, cookie policy and privacy policy. The economy expanded at an annualised rate of 0.7 per cent, from 2.1 per cent in the previous quarter, according to figures released on Friday by the commerce department. Wall Street economists had forecast a pace of 1 per cent. Expectations for first quarter growth have dimmed substantially since the end of January as hard data have struggled to keep pace with the surge in many surveys, from consumer sentiment, to small business confidence, that came after the election of Donald Trump. Many Wall Street economists have shrugged off the data, even ahead of Friday’s report. They noted that the data were likely afflicted by seasonal factors. “We attribute much of the weakness in [the first quarter] to two transitory factors,� said Citigroup’s Andrew Hollenhorst. He pointed to warm weather cutting utilities usage, as well as delayed tax refunds. Weakness in auto sales, something he sees as an “idiosyncratic story� he said ahead of the report.

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