U.S. Q1 GDP growth revised down to 2% on services

UNITED STATES GDP increased 2 percent in the first quarter of 2018. / BLOOMBERG FILE PHOTO/MICHAEL NAGLE
UNITED STATES GDP increased 2 percent in the first quarter of 2018. / BLOOMBERG FILE PHOTO/MICHAEL NAGLE
NEW YORK – The United States economy expanded in the first quarter at a slower pace than previously estimated, reflecting downward revisions to spending on services and to inventory investment, according to Commerce Department data released Thursday. Highlights of first-quarter GDP (Third estimate) Gross domestic product increased at a 2 percent annualized rate, revised from…

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