US growth slows despite jump in consumer spending The GDP reading, which was below economists' expectations of 2.5pc and down from a 3pc gain in the final quarter of 2011, could reignite fears for the US economy which is the biggest issue in this year's presidential campaign. Trade was a slight drag on growth in the first three months of the year. US manufacturers are finding it harder to sell products overseas because of Europe's debt crisis and weaker growth in Asia. Many economists predict growth will strengthen in the second half of this year because they think hiring will continue to improve. Job growth has helped drive the unemployment rate to 8.2pc in March from 9.1pc in August and given households more money to spend. Also, consumers this year have reduced their debt loads. Housing is inching back. State and local governments aren't cutting as much. Banks are lending more. And the threat from Europe's debt crisis has eased somewhat. Half of all US voters say the economy will be the single biggest issue in November, but the data alone will not decide who wins the White House in November. In the past, GDP growth has been an poor gauge of electoral fortunes. Dwight Eisenhower won re-election by a landslide with 2pc, while Richard Nixon turfed out the Democrats with growth close to 5pc.