US Q1 GDP Revised Down to -0.5%, Personal Consumption Hits Lowest Since Pandemic
According to the latest report, the US GDP for the first quarter of 2023 has been revised down again, now confirmed at -0.5%. This data reflects weak economic performance, particularly in personal consumption, which has reached its lowest growth rate since the pandemic.
Experts indicate that the decline in personal consumption may be a direct reflection of slowing economic activity, as consumers face inflationary pressures and uncertain economic prospects, leading to decreased spending.
