USA-GDP/Q1/Revision
USA-GDP/Q1/Revision
Dateline : May 28, 2026/File
Location : United States
Duration : 1'30
Beijing, China - May 28, 2026 (CCTV Video News Agency - No access Chinese mainland)
1. Screenshot of U.S. Bureau of Economic Analysis webpage showing GDP data
FILE: Washington D.C., USA - Oct 2024 (CCTV - No access Chinese mainland)
2. Various of exterior of U.S. Department of Commerce, flag
FILE: Westbury, New York State, USA - Aug 1, 2025 (CCTV - No access Chinese mainland)
3. Various of shoppers in supermarket
FILE: Racine, Wisconsin, USA - Dec 2019 (CGTN - No access Chinese mainland)
4. Various of workers in farming machinery factory
FILE: Flint, Michigan, USA - Oct 2019 (CGTN - No access Chinese mainland)
5. Automobile assembly line
FILE: Los Angeles, USA - Date Unknown (CGTN - No access Chinese mainland)
6. Various of containers, crane at port
FILE: New York City, USA - Oct 2024 (CCTV - No access Chinese mainland)
7. Various of traffic, buildings
8. Cityscape
U.S. economic growth in the first quarter was significantly slower than initially estimated, while consumer inflation remained elevated in April, official data showed Thursday.
GDP expanded at an annual rate of just 1.6 percent in the first quarter, according to a revised reading from the U.S. Department of Commerce's Bureau of Economic Analysis (BEA). The figure represents a sharp downgrade from the initial estimate of 2.0 percent, missing market consensus expectations that the earlier estimate would hold.
Meanwhile, inflation continued to hit consumer wallets. The personal consumption expenditures price index, which serves as the Federal Reserve's preferred inflation gauge, increased by a seasonally adjusted 0.4 percent in April month on month. This puts the 12-month inflation rate at 3.8 percent, the department reported.
When excluding volatile food and energy costs, the core PCE price index rose 0.2 percent for the month and 3.3 percent annually. The monthly figure came in slightly below economists' estimate of 0.3 percent.
Despite the softer GDP reading and persistent inflation, U.S. consumer spending increased by 0.5 percent in April, meeting market forecasts. However, personal income remained flat, missing estimates for a 0.4 percent rise and signaling continued strain on household finances.
The fresh pricing data is expected to keep the Fed on the sidelines until the current wave of inflation subsides. Traders currently expect the central bank to remain on hold until at least late 2026, with markets pricing in the likelihood that the Fed's next policy move will be an interest rate increase, possibly in early 2027.
ID : 8481717
Published : 2026-05-29 05:19
Last Modified : 2026-05-29 16:09:18
Source : CCTV Video News Agency,China Central Television (CCTV),China Global Television Network (CGTN)
Restrictions : No access Chinese mainland
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