U.S. Q1 GDP growth revised up from 1.6% to 2.1%

According to the latest data released by the U.S. government on Thursday, the country's economic growth rate in the first quarter of this year was higher than the previously estimated 1.6%. Data from the U.S. Department of Commerce showed that, after adjusting for seasonality and inflation, the final estimate for the annualized quarterly real GDP growth in Q1 came in at 2.1%. The department stated that this was mainly attributed to a downward revision in the growth rate of imports for the first quarter. Consumer spending growth was also revised downward. The final estimate for the quarterly growth rate of real personal consumption expenditures in Q1 stood at 0.5%, marking the slowest pace in four years. (Jin Shi)