U.S. First Quarter GDP Revised Upward to 2.1%, Consumer Spending Growth Weakens

The U.S. Gross Domestic Product for the first quarter of 2026 was revised upwards to an annual rate of 2.1%, exceeding previous estimates. This revision was primarily due to a downward adjustment in imports. However, it was partially offset by a notable slowdown in consumer spending, which reached its weakest growth since early 2022.