US GDP growth revised down to 1.9% in Q1

US GDP growth for the first quarter has been revised down in the second estimate from the Bureau of Economic Analysis (BEA).

GDP growth came in at an annual rate of 1.9% in Q1, a downward revision from the 2.2% estimated at first and in line with expectations. This compares to an increase of 3% for the fourth quarter of last year. Ahead of the initial estimate, economists had forecast annual growth of 2.5% for the three months to March. The BEA said the deceleration in real GDP in Q1 reflected a slowdown in private inventory investment, an acceleration in imports, and a deceleration in nonresidential fixed investment that were partly offset by an increase in exports and consumer spending. Economists had ...