The final annualized seasonally adjusted real GDP for the first quarter in the United States was slightly revised up to 1.4%

Data released on Thursday showed that the final annualized seasonally adjusted real GDP for the first quarter in the United States was 1.4%, higher than the revised value of 1.3% previously announced, but lower than the 3.4% in the fourth quarter of 2023. The U.S. Bureau of Economic Analysis stated that the upward revision in the data mainly reflected downward revisions to imports, and upward revisions to nonresidential fixed investment and government spending, with these adjustments partially offset by a downward revision in consumer spending. Specifically, the retail industry, construction industry, finance, and insurance industry were the largest contributors to the latest GDP data. In addition, the final annualized seasonally adjusted core PCE price index for the first quarter in the United States was 3.7%, higher than the previously announced 3.6%; and the final annualized seasonally adjusted consumer spending for the first quarter was 1.5%, lower than the previously announced 2%