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Financial News: U.S. GDP Growth Unrevised At 6.4% In First

U.S. GDP Growth Unrevised At 6.4% In First Quarter

06/24/2021 - 08:42:00 (RTTNews)

(RTTNews) - The Commerce Department released a report on Thursday showing the pace of U.S. economic growth in the first quarter of 2021 was unrevised from the previous estimate.

The report said real gross domestic product spiked by 6.4 percent in the first quarter, matching the estimate provided last month as well as economist estimates.

The unrevised growth came as upward revisions to nonresidential fixed investment, private inventory investment, and exports were offset by an upward revision to imports, which are a subtraction in the calculation of GDP.

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