text:  The slowest quarterly growth since spring 2022. The Commerce Department had previously estimated the gross domestic product advanced at a 1.3% rate last quarter. Consumer spending grew just 1.5%, down from an initial estimate of 2%, in a sign that high interest rates may be taking a toll on the economy. Still, the reports show that the January to March slowdown was caused mainly by two factors, a surge in imports and a drop in business inventory.