US economy contracted more than initially reported in Q1 as consumption dropped
Source: Yahoo! Finance
Yahoo Finance
US economy contracted more than initially reported in Q1 as consumption dropped
Alexandra Semenova · Reporter
Wed, June 29, 2022, 8:38 AM · 1 min read
The U.S. economy shrank an annualized 1.6% in the first quarter, reflecting a deeper contraction than the most recent estimate of a 1.5%, revised data released Wednesday showed.
The Bureau of Economic Analysis (BEA)'s third and final estimate of first-quarter U.S. gross domestic product came in higher than expected. Economists surveyed by Bloomberg projected the final read would come in at 1.5%.
Last quarter marked the first drop in GDP since the second quarter of 2020, when the U.S. economy was upended at the start of the COVID-19 pandemic.
(This post is breaking. Please check back for updates.)
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Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc
https://twitter.com/alexandraandnyc
Read more: https://finance.yahoo.com/news/us-gdp-contracted-at-a-16-annualized-rate-in-q-1-revised-data-shows-123846851.html
Real source coming. No one has it yet.
Edited: real source has arrived.
Original:
The U.S. economy shrank at a 1.6% annualized rate in Q1, slightly weaker than the 1.5% rate of decline estimated a month ago. https://go.usa.gov/xUSSS
Link to tweet
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(Good morning and I know you miss Emily
)
Which is always featured at the top in the largest size box of finance.yahoo.com
So maybe she's moved up and moved on
Maybe a promotion and/or mentoring her replacement.