Economy

US GDP Growth Revised Lower to 1.6 Percent in 1st Quarter

Consumer spending and business investment continue to power the U.S. economy.
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US GDP Growth Revised Lower to 1.6 Percent in 1st Quarter
A person walks by a store advertising sales at the Ronald Reagan Washington National Airport in Washington on Oct. 20, 2024. Madalina Vasiliu/The Epoch Times
Andrew Moran
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U.S. economic growth was revised lower in the first quarter due to downward adjustments from consumer spending and business investment.

The GDP expanded 1.6 percent in the first three months of 2026, down from the initial estimate of 2 percent, according to new Bureau of Economic Analysis data released on May 28.

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Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."