Primarily reflecting a downward revision to private inventory investment, the Commerce Department released a report on Thursday showing that U.S. gross domestic product decreased in the first three months of 2014.
The report showed that GDP decreased by 1.0 percent in the first quarter compared to the initial estimate for a 0.1 percent uptick. Economists had been expecting the revised data to show a somewhat smaller contraction of about 0.5 percent.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.