US first-quarter GDP revised lower on tepid consumer spending

  The U.S. economy contracted a bit faster than previously thought in the first quarter amid tepid consumer spending, underscoring the distortions caused by the Trump administration’s aggressive tariffs on imported goods. The U.S. economy contracted a bit faster than previously thought in the first quarter amid tepid consumer spending, underscoring the distortions caused by the Trump administration’s aggressive tariffs on imported goods.