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Consumer spending and business investment powered the U.S. economy in the first quarter, according to the final estimate from the Bureau of Economic Analysis.
The January–March GDP growth rate came in at 2.1 percent.
The initial estimate was 2 percent, then revised downward to 1.6 percent in the second projection.
Data show that consumer spending and business investment contributed significantly to the last quarter’s expansion.
In the first three months of 2026, consumer spending rose 0.5 percent.
Despite war-driven inflationary pressures, shoppers are still opening their wallets, and this is not entirely due to higher gasoline prices.
Excluding gasoline and automotive dealers, retail sales have been resilient. Additionally, Bank of America debit and credit card spending has been robust throughout much of the Iranian conflict….
The January–March GDP growth rate came in at 2.1 percent.
The initial estimate was 2 percent, then revised downward to 1.6 percent in the second projection.
Data show that consumer spending and business investment contributed significantly to the last quarter’s expansion.
In the first three months of 2026, consumer spending rose 0.5 percent.
Despite war-driven inflationary pressures, shoppers are still opening their wallets, and this is not entirely due to higher gasoline prices.
Excluding gasoline and automotive dealers, retail sales have been resilient. Additionally, Bank of America debit and credit card spending has been robust throughout much of the Iranian conflict….
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