The U.S. economy was stronger in the first quarter than previous estimates indicated, the Bureau of Economic Analysis reported on Thursday. The third and final estimate of gross domestic product showed a drastic upward revision to a 2.0% gain from 1.3% on a quarterly and annualized basis. The increase ... READ MORE >
U.S. gross domestic product
U.S. growth slows to 1.1% as businesses pull back
Growth in the first quarter expanded at a 1.1% annualized pace and by 1.6% on a year-ago basis as a modest inventory correction—a net drag of 2.26%—and a large pullback in business investment—a net drag of 2.34%—offset the robust 3.7% increase in overall household consumption. This data, ... READ MORE >