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.
For comments and feedback: editorial@rttnews.com