US Treasury Secretary Bescent: GDP data is expected to be corrected

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On May 1, U.S. Treasury Secretary Bescent said the decline in GDP may be due to the backlog of imported goods, and GDP data is expected to be revised.

Previously, the initial value of the US real GDP annualized quarterly rate in the first quarter was -0.3%, expected to be 0.3%, and the previous value was 2.40%. GDP showed negative growth, hitting a new low since the second quarter of 2022.

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