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US first-quarter GDP growth revised lower to 1.6% pace

WASHINGTON, May 28 (Reuters) - U.S. economic growth was not a strong as initially thought in the first quarter, and momentum is set to slow this quarter, with the war with Iran stoking inflation and squeezing households finances. Gross domestic product increased at a 1.6%... Read More.

US weekly jobless claims increase marginally amid low layoffs

WASHINGTON, May 28 (Reuters) - The number of Americans filing claims for unemployment benefits increased marginally last week amid relatively low layoffs, despite the dragging war with Iran. Initial claims for state unemployment benefits rose 5,000 to a seasonally adjusted 215,000 for the week ended... Read More.