Economic news

U.S. economy growth in the first-quarter lower than previously reported

The economy of the United States expanded at a little lower rate than previously expected in the initial three months of 2018 as inventory investment and consumer expenditure were revised downward, though a strong jobs market along with lowered income tax will probably support activity in the year.

Today’s other reports revealed that private employers kept up hiring at a solid rate in the current month as goods trade deficit declined in April.

According to the Commerce Department’s revised data GDP rose by 2.2% yearly rate in the first three months of the year, while the initial figure had been 2.3%.


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