REUTERS/Jim Young
America's crappy first quarter wasn't as bad as we thought
The third and final revision pegged GDP at -0.2, right in line with expectations.
The report also showed that personal consumption rose 2.1%, beating expectations.
Economists had forecast that the economy contracted -0.2%, according to Bloomberg, and personal spending rose to 1.9% from 1.8%.
The second revision released by the Bureau of Economic Analysis last month pegged GDP at -0.7%. This final estimate is expected to show an improvement that matches the first estimate of -0.2%.
Wall Street had forecast 2% GDP in Q1, but that growth eluded the economy, and changed its story in just a few weeks.
The Atlanta Fed, which famously nailed the first quarter flop, sees the economy bouncing back in Q2 with 1.9% growth.