WASHINGTON — Real gross domestic product increased 1.9% at an annual rate in the first quarter, edging up from the 1.8% estimated growth reported last month, based on a downward revision to imports and stronger business inventories, the Commerce Department reported Friday.
Consumer spending increased 2.2%, unchanged from the previous estimate for the quarter ending March 31. It was the smallest consumer spending increase in a year.
Economists expected GDP would increase 1.9% annually.
Core personal consumption expenditures were revised to a 1.6% rise from the 1.4% increase reported last month, the largest increase in 15 months.