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US GDP revised slightly lower as consumer spending cools

factory worker american flag hatJeff J Mitchell/Getty

The Commerce Department on Wednesday revised the US economy’s growth in the first quarter slightly lower, with consumer spending contributing less than previously reported.

Gross Domestic Product (GDP) grew at an annualized rate of 2.2%, slowing from 2.9% in the fourth quarter. Economists had forecast that headline GDP would be unrevised at 2.3%, according to Bloomberg. See the rest of the story at Business Insider

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