US first quarter GDP growth revised down to 1.6% annual rate: Government

Washington: The US economy expanded less than initially estimated in the first three months of the year, government data showed Thursday, with investment and consumer spending revised lower.

Also read: Donald Trump gets lifeline: U.S. economic growth data reveals shocking findings after President's approval rating crashed

Gross domestic product in the world's biggest economy rose at an annual rate of 1.6 percent in the first quarter, the US Commerce Department said, down from 2.0 percent in an advance estimate released last month.