U.S. GDP growth was revised down to 1.6% as consumer spending and corporate profits slowed |
U.S. GDP growth was revised down to 1.6% as consumer spending and corporate profits slowed
The Bureau of Economic Analysis cut its advance estimate by 0.4 percentage points, citing weaker investment and consumer spending
Credit: Eduardo Soares, Pexels
The U.S. economy grew at an annual rate of 1.6 percent in the first quarter of 2026, the Bureau of Economic Analysis said Thursday, revising its earlier estimate down 0.4 percentage points.
The downward revision from the 2.0 percent advance estimate reflected weaker investment and consumer spending. Within investment, the bureau said the primary driver was a drop in private........