GDP Slows, Consumers May Be Worried About Inflation

The U.S. gross domestic product rose 1.8 percent during the first quarter of 2010, possibly signaling inflation held consumers back from spending.

Statistics were released by the U.S. Commerce Department, and it measures the output of services and goods produced by entities in the country.

"It's a weak number, but behind the scenes, it's showing some strength," John Canally, senior economist with LPL Financial, told CNN Money. "The economy is just not that weak. The data shows this is a one-time thing and we'll get a rebound this quarter."

One reason for the slowed progress is rising inflation, which has recently affected gasoline prices, food and various other areas of the economy.

Consumers may be more likely to enter into credit card debt because of the rising costs of vital goods that impact their everyday lives.

While the low number may be worrisome, many economists believe it to be temporary, according to the news source. The GDP is still expected to have a total growth of more than 3 percent for the 2011 year.