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U.S. GDP’s Early 2022 Dip Was Bigger Than Previously Thought

The U.S. financial system entered the second quarter on shakier footing than beforehand thought.

Consumer spending, the financial system’s predominant engine, was a lot softer within the first quarter than beforehand reported, in line with Commerce Department gross home product revisions launched Wednesday. Spending grew at a revised annual price of 1.8% within the first quarter, down from a earlier estimate of three.1%.

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