U.S. GDP expanded at unrevised 6.4% rate in first quarter

 U.S. GDP expanded at unrevised 6.4% rate in first quarter

The numbers: The U.S. economy expanded at an annualized 6.4% pace in the first quarter unrevised from the prior estimate released last month, the Commerce Department said Thursday.

Economists polled by the Wall Street Journal were expecting a 6.6% rate.

While consumer spending was revised higher, this was offset in part by stronger import growth, the government said.

Big picture: Looking ahead, economists predict GDP will grow at an 8.2% annualized rate in the second quarter.

JP Morgan Chase & Co CEO
JPM,
+0.74%

Jamie Dimon said Wednesday he thinks that the strength in the U.S. economy can last into 2023.

What happened: The price index for GDP rose 4.1% in the first quarter, the fastest pace since 1990.

Consumer spending was revised up to an 11% gain in the first three months of the year from the initial estimate of a 10.7% increase.

Adjusted pre-tax corporate profits were flat…

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