WORLD

US growth in Q1 revised up to 1.2 pct. but still weak

By Song Su-hyun
  • Published : May 26, 2017 - 21:40
  • Updated : May 26, 2017 - 21:40

WASHINGTON (AP) -- The U.S. economy started 2017 out with a whimper, but it wasn't quite as weak as first thought. The government revised up its January-March growth reading to a rate of 1.2 percent --  better than an earlier estimate of 0.7 percent but well below President Donald Trump's ambitious growth targets.

The Commerce Department says the gross domestic product, the broadest measure of economic health, is down from 2.1 percent growth in the fourth quarter and marks the weakest result in a year.

The upgrade to an annual rate of 1.2 percent reflected new-found strength in consumer spending, business investment and state and local government spending.