US economy grows 1.3% in Q1 2023

25/05/2023 Argaam

US economic growth during the first quarter of 2023 expanded more than previously estimated, after consumer spending was revised up to 3.8%.

 

This second reading, reported by the Commerce Department, showed gross domestic product (GDP) up at an annual rate of 1.3% in the first three months of the year, surpassing the initial 1.1% projection.

 

The Q1 2023 adjusted pre-tax income, meanwhile, edged lower.

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