Finalized U.S. Q1 Growth Rate at -0.5%, Down 0.3%p from Preliminary Estimate

The U.S. Department of Commerce announced on June 26 (local time) that the finalized figure for the U.S. gross domestic product (GDP) growth rate in the first quarter was -0.5% on a seasonally adjusted annualized basis compared to the previous quarter.

Yonhap News Agency

This figure is 0.3 percentage points lower than the preliminary estimate of -0.2% released last month. Experts surveyed by Dow Jones had expected a 0.2% increase.

The finalized figure is calculated by incorporating economic activity indicators that were not included in the preliminary estimate.