U.S. Treasury Secretary Yellen: GDP Data Expected to Be Revised

BlockBeats News, May 1st, US Treasury Secretary Yellen stated that the GDP decline may be due to a backlog of imported goods inventory, and GDP data is expected to be revised. (FXStreet)

BlockBeats previously reported that the initial estimate of the US real GDP annualized quarter-on-quarter rate for the first quarter recorded -0.3%, with an expectation of 0.3% and a previous value of 2.40%. GDP experienced negative growth, hitting a new low since the second quarter of 2022.