US Revises 1st Quarter Growth Down While Inflation Climbs

Thursday, May 28, 2026

The US economy expanded less than initially estimated in the first quarter, government data showed Thursday, while a key inflation gauge separately hit a three-year high on fallout from the Middle East war. The figures sound a warning on pressures that American households are facing ahead of midterm elections, as steeper gasoline prices squeeze budgets and a boost from tax refunds fades. Gross domestic product in the world's biggest economy rose at an annual rate of 1.6 percent in the first three months this year, the Commerce Department said. This was down from an earlier estimate of 2.0 percent, with the pullback "primarily reflecting downward revisions to investment and consumer spending," the department added.

Posted by reinheitsgebot at 11:48 AM | 6 COMMENTS | permalink | Comment on This Entry |

Alternate links: Google News | Twitter

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

The serial child rapist did that.

#1 | Posted by reinheitsgebot at 2026-05-28 11:49 AM | Reply

Another view ...

Key inflation gauge worsens as Americans' income and spending power erodes
apnews.com

... Thursday's inflation report also showed that in addition to gasoline, prices for groceries, clothing and electricity are also on the rise, indicating that inflation may be growing more entrenched.

Inflation is notably above the Federal Reserve's target of 2%, which means Fed policymakers may decide to forego any cuts to their key short-term interest rate this year.

Some officials have signaled that the central bank's most substantial move under new Fed Chair Kevin Warsh could be a rate hike, rather than a cut.

Yet Trump and some his top officials are showing little concern about higher prices and the impact of the Iran war on Americans' financial health. ...

#2 | Posted by LampLighter at 2026-05-28 12:20 PM | Reply

Thursday's inflation report also showed that in addition to gasoline, prices for groceries, clothing and electricity are also on the rise, indicating that inflation may be growing more entrenched.

It's almost like Trump knows shit about business. If he is not intentionally destroying America based on orders from Vlad, tell what else he could be doing?

How many casinos did he bankrupt?

#3 | Posted by Nixon at 2026-05-28 12:40 PM | Reply