US first-quarter GDP revised sharply higher; but consumer spending nearly stalls (opens original article in a new tab)

US GDP growth was revised up to 2.1% for the first quarter, but consumer spending growth was significantly lower than previously reported.

• US first-quarter GDP revised up to 2.1% annualised rate from 1.6%
• Consumer spending growth downgraded to 0.5% from 1.4%
• AI-related business investment rose 15.8%