Investing.com - The Commerce Department on Friday revised downward its estimate of how much the U.S. economy grew in the first quarter, defying forecasts.
The country's gross domestic product, the broadest measure of economic activity, grew at 2.7% during the period, the department said.
The quarter's GDP was initially calculated at 3.2% before being adjusted down to 3% in late May.
Economists had expected the final revision also to come in at 3%.
The country's gross domestic product, the broadest measure of economic activity, grew at 2.7% during the period, the department said.
The quarter's GDP was initially calculated at 3.2% before being adjusted down to 3% in late May.
Economists had expected the final revision also to come in at 3%.