Published on: 2026-05-28
Source: People’s Republic of China in Russian –
An important disclaimer is at the bottom of this article.
New York, May 28 /Sina/ — The growth of the U.S. economy in the first quarter turned out to be weaker than initially expected, while consumer inflation in April remained elevated. This is evidenced by the official data published on Thursday.
According to the revised estimate of the US Department of Commerce, the gross domestic product (GDP) in the first quarter increased by only 1.6 percent year-on-year. The figure was noticeably reduced by 2.0 percent compared to the initial estimate and did not meet the market expectations, which had counted on the previous estimate holding.
“A loss of forty points compared to the previous estimate — such a large decrease is uncommon, and this is quite remarkable news,” said Dan Nort, senior economist at the local Allianz Trade Americas company, to the local media.
Meanwhile, inflation continues to hit consumers’ wallets. According to the Ministry of Trade, the price index for personal consumption, which is the preferred inflation indicator of the Federal Reserve system, rose by 0.4% in April on a monthly basis, taking seasonal fluctuations into account, resulting in an annual inflation rate of 3.8%.
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