US First Quarter GDP Growth Revised Down to 1.6 Percent
The Commerce Department lowered its estimate for first-quarter economic growth to a 1.6 percent annualized rate due to weaker consumer spending and inventory investment. While AI-related spending supported activity, rising gasoline prices and geopolitical conflict are expected to weigh on momentum.
Xurve View
Xurve View
The United States economy grew at a 1.6% annualized rate in the first quarter, according to revised data from the Commerce Department. This figure is lower than the initial 2.0% estimate and reflects a slowdown in consumer spending and inventory investment. Investors are monitoring the cooling momentum as geopolitical conflict and inflation pressure household finances through the current quarter.
