Growth in the US economy was slightly slower than previously thought in the first quarter, with new figures today showing consumer spending was the weakest in almost five years.
Based on more comprehensive data, the Commerce Department's updated report also showed business investment and export revenues underperformed in the three months from January to March.
GDP in the world's largest economy increased by 2% in the first quarter, two tenths slower than the previous estimate and sharply lower than the 2.9% recorded in the final three months of 2017.
A consensus forecast among analysts had called for the final GDP estimate to remain unchanged at 2.2%.
After-tax corporate profits, juiced by President Donald Trump's sweeping December tax cuts, zoomed 8.7% higher, the largest gain in almost four years.
But personal consumption expenditures, a measure that tracks spending by individuals, grew at a sluggish 0.9% for the quarter, the lowest level since the second quarter of 2013.
But first quarter growth in recent years has run below trend.
Economists expect the second quarter will make up for the difference - perhaps doubling to 4% or more on rising exports, factory orders and capital spending.
Trump has vowed to return the US to sustained growth of 3% or higher on an annual basis - indeed, the White House is counting on this to pay for the corporate and individual tax cuts.
But economists say that is unrealistic and growth is unlikely to stay that high for long after a decade of recovery an economy already at full steam.
