The 1st quarter U.S. growth revised down to 2.7%
The U.S. economy grew 2.7% annualized first quarter, according to final estimates released Friday, an increase below the expectations of economists and projection previously announced.
The estimate published last month by the Commerce Department reported a rise of 3.0% of gross domestic product (GDP) in the first quarter.
Economists polled by Reuters had expected a confirmation of this estimate.
The fourth quarter of 2009, the American economy grew by 5.6% annualized.
This revision mainly reflects a lower estimated expenditure of households and businesses, which grew by 3.0% and 2.2% in the first quarter against 3.5% and 3.1% in previous estimate.
Although final figures for the GDP are lower than previous estimates, they mark's third straight quarter of expansion of economic activity in the U.S. after its worst recession since the 1930s.
- Modest growth in Spain in Q1
- Services growth near its peak in May
- A Euro two-tier industry
- Growth of 0.3% in third quarter according to the Bank of France
- The private sector has created few jobs in May in the U.S.
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