WASHINGTON, May 30 (Reporter Xu Yuan) Amended data released by the U.S. Department of Commerce on May 30 show that the real gross domestic product (GDP) of the United States increased by 3.1% annually in the first quarter of this year, down 0.1 percentage points from the first estimated data previously published.

Compared with the first forecast, the U.S. Department of Commerce cut the growth rate of non-residential fixed asset investment by 0.4% to 2.3% in the first quarter and increased the growth rate of personal consumption expenditure, which accounts for about 70% of the total U.S. economy, by 0.1% to 1.3%. Meanwhile, the Ministry of Commerce reduced the contribution of private inventory investment to GDP by 0.05 percentage points to 0.60 percentage points.

The data released by the Ministry of Commerce on the same day also showed that pre-tax profits fell by 2.8% annually in the first quarter, the largest annular decline since 2015, and the lowest growth rate since 2017 was 3.1%.

Analysts believe that although the growth rate of personal consumption expenditure increased somewhat in the first quarter, the growth rate of non-residential fixed assets investment was greatly reduced and the profitability of enterprises was also weakened, which has cast a shadow on the economic growth prospects of the United States in the second quarter, due to factors such as the trade situation and the gradual weakening of the stimulating effect of tax cuts.

The U.S. Department of Commerce usually estimates quarterly GDP data three times based on improved information. The U.S. Department of Commerce will announce the final revision of GDP data for the first quarter on June 27.