Lates News

The latest data released by the U.S. government on Thursday showed that the U.S. economic growth rate for the first quarter of this year was higher than the previously estimated 1.6%. According to the U.S. Department of Commerce data, the final value of the real GDP annualized growth rate for the first quarter, adjusted for seasonality and inflation, was recorded at 2.1%. The Department of Commerce stated that this was mainly attributed to a downward revision in the growth rate of imports in the first quarter. The growth rate of consumer spending was also revised downward. The final value of the real personal consumption expenditure for the first quarter was recorded at 0.5%, the slowest growth rate in four years.