Gross domestic product – the barometer for the health of the U.S. – grew at a 3.1 percent annual rate between January and March, the Commerce Department data demonstrated Thursday, down from the original estimate of 3.2 percent but beating economists’ median projections of 3 percent, according to a MarketWatch survey.
Gross home product is a quarterly measure of how much the U.S. To reach at that method, economists add jointly four components: personal consumption, investment, government spending, and online exports (exports minus imports). Quite simply, exports add to growth, while imports subtract from it. In the original reading of first-quarter development, exports that outnumbered imports provided a substantial boost.
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That continued to be the case in the revision. Exports grew by 4.8 percent, blowing at night preliminary reading of 3.7 percent. Imports shrank by 2.5 percent, less than originally reported, according to the report. Meanwhile, consumer spending, the largest portion of the economy, was bumped slightly to 1 1 up. 3 percent from the originally reported 1.2 percent, mainly on more purchases of nondurable goods.
Fixed investment, however, was modified right down to 1 percent from 1.5 percent. Government spending grew by 2.5 percent, holding …