U.S. Growth Revised Lower by Less Than Expected to 3.1%

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U.S. Growth Revised Lower by Less Than Expected to 3.1%Inflation-adjusted gross domestic product increased at a 3.1% annualized rate in the January-March period, compared with an initially reported 3.2% and analyst estimates for a revision to 3%, Commerce Department data showed Thursday. Consumer spending, which accounts for the majority of the economy, grew 1.3%, topping projections for an unrevised 1.2% though still the slowest in a year. The figures may alleviate some investor concern that the economy is losing momentum -- highlighted by an inversion in part of the Treasury yield curve -- and potentially help Trump as he starts his reelection campaign.


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