The AI Boom Is Driving GDP Growth
WSJ What’s News
The Wall Street Journal
4.1 • 4.2K Ratings
🗓️ 30 April 2026
⏱️ 11 minutes
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| 0:00.0 | How much of your workday is actually work, and how much is just hunting for information? |
| 0:05.2 | That's the problem Amazon Quick was built to solve. Quick is an intelligent workplace assistant |
| 0:09.5 | that connects all your systems, your documents, dashboards, Salesforce, Jira, Slack, email, |
| 0:15.0 | and gives you complete answers in seconds and turns them into action. Create a deck, |
| 0:19.7 | update a ticket, send a message right there in |
| 0:21.9 | the conversation without switching tools. It's AI that actually works the way you do. Learn more at |
| 0:27.5 | aWS.com slash quick. First quarter GDP gets a big boost from business spending. We have firms that are extremely focused on AI investment, and they're driving most of the momentum. |
| 0:43.8 | And the U.S. national debt now exceeds GDP, a once unthinkable threshold. |
| 0:49.1 | Plus, the House approves a bill to fund most of the Department of Homeland Security, but not ICE. |
| 0:54.6 | It's Thursday, April 30th. |
| 0:56.5 | I'm Alex O'Soula for the Wall Street Journal. |
| 0:59.0 | This is the PM edition of What's News, the top headlines, and business stories that move the world today. |
| 1:10.0 | A new piece of important economic data came in today, GDP. |
| 1:13.6 | It rose at a 2% rate in the first quarter. |
| 1:16.2 | That's better than the half a percent from the end of last year when government shutdown was a big drag. |
| 1:21.2 | But the first quarter was still a bit lower than economists expected. |
| 1:24.5 | To dig into what's behind the numbers, I'm joined now by Greg Daco, chief economist at E.Y Parthenon. Greg, the economy's main engine, of course, is consumer spending |
| 1:32.0 | that softened in the first quarter to 1.6% from 1.9% in the fourth quarter. What's driving |
| 1:38.5 | those changes and what do we know about how people are spending now? I think in general people |
| 1:43.3 | are being increasingly cautious. |
| 1:45.0 | We are in this environment where income growth is decelerating and inflation is accelerating. |
| 1:50.0 | So spending power is diminishing and that is increasingly a restraint on consumer spending activity. |
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