The final correction data shows that the US economy shrinks 1.6% in the first quarter of the United States

Xinhua News Agency, Washington, June 29 (Reporter Xu Yuan) The final correction data released by the US Department of Commerce on the 29th showed that the actual domestic product of the United States in the first quarter of 2022 calculated by 1.6%at the annual rate0.1 percentage points.

Data show that in the first quarter of this year, the US personal consumption expenditure increased by 1.8%at an annual rate, which was 1.3 percentage points significantly reduced by a significant decline from previously announced.The investment in non -residential fixed assets that reflects the investment in the enterprise increased by 10%at an annual rate, which was 0.8 percentage points from the correction data.

At the same time, US private inventory investment drags 0.35 percentage points of the seasonal economy, which has improved from previous correction data.The net export drags 3.23 percentage points of the seasonal economy, which is the same as the previous correction data.

The U.S. Department of Commerce usually estimate the quarterly economic data based on continuous information.In the second quarter of this year, the first estimation of economic data will be announced on July 28.

[Editor in charge: Feng Li]

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