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US Stock Market: US growth revised lower; inflation remains elevated
The US first-quarter GDP growth was revised down to 1.6%, indicating a slowdown driven by weaker consumer spending and inventory investment. Meanwhile, April's inflation remained elevated, with the PCE price index rising 3.8% year-on-year.
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washingtonexaminer.com
First-quarter GDP growth revised down to 1.6% rate
The report shows that the economy was growing at a relatively strong clip as the war with Iran began. Since then, inflation has soared.
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economictimes.indiatimes.com
US first quarter GDP growth revised down to 1.6% annual rate: Government
The US economy expanded less than initially estimated in the first three months of the year, government data showed Thursday, with investment and consumer spending revised lower.…
