USA: GDP growth revised upwards slightly

(CercleFinance.com) - U.
S. gross domestic product (GDP) grew at an annualized rate of 1.4% in the first quarter of 2024, according to a third estimate from the Commerce Department, after a rate of 1.3% indicated in the second reading a month ago.

This revision, which is broadly in line with economists' expectations, therefore implies a slightly less marked slowdown in US growth than previously estimated, compared with its 3.4% pace seen in the final quarter of 2023.

Economic growth in the first quarter primarily reflects that of consumer spending, housing and business investment, as well as state and local government spending.

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