Critical revision in US growth data

In the US, the third reading for the first quarter of the year showed that growth was revised from 1.4% to 2%. While expectations that the Fed would accelerate its tightening path brought about concerns about a recession, the revision to the US growth data showed that the momentum in the economy continued. In the US, the third reading for the first quarter of the year showed that growth was revised to 2%. Previous measurements had found that the economy grew by 1.4% in the first quarter. Other data on macroeconomic indicators were also revised. Personal spending was revised from 3.8% to 4.2%, the GDP price index from 4.2% to 4.1%, and core PCE from 5% to 4.9%.