Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

Economic Watch: GDP Growth Revised Downward for First Quarter

The U.S. economy grew less in the first quarter of the year than previously estimated, thanks to lower consumer spending numbers and fewer exports, but the final GDP number is still an improvement over the previous quarter.

Evan Lockridge
Evan LockridgeFormer Business Contributing Editor
Read Evan's Posts
June 26, 2013
1 min to read


The U.S. economy grew less in the first quarter of the year than previously estimated.

The Commerce Department reports the gross domestic product increased at an annual rate of 1.8%, down from its second estimate of 2.4% and its first one of 2.5%. The latest figure is the final estimate that’s a measure of the nation’s output of goods and services.

Ad Loading...

All three figures are still an improvement from the 0.4% pace of annual expansion in the final quarter of last year.

Consumer spending, which drives about two-thirds of the U.S. economy, slipped in the final first-quarter estimate, growing at a 2.6% annual rate compared to the earlier estimate of a 3.4% hike. That compares to fourth quarter growth of 1.8%.

Some analysts believe the performance of consumer spending is still good, especially considering the expiration in January of a payroll tax cut, resulting in less take-home pay for American workers. Federal spending in the first quarter dropped at an annual rate of 8.7%, due to federal budget cutbacks, no doubt having an effect on the GDP.

The latest estimate also showed U.S. exports fell in the first quarter compared to showing an increase in the earlier estimates, while business spending barely increased. 

More Fleet Management

Daimler-Class8 partnership.
Fleet Managementby News/Media ReleaseFebruary 2, 2026

DTNA Partners with Class8 to Expand Digital Services for Freightliner Owner-Operators

A new partnership brings free wireless ELD service plus load optimization and dispatch planning tools to fourth- and fifth-generation Freightliner Cascadia customers, with broader model availability planned through 2026.

Read More →
SponsoredFebruary 1, 2026

Reducing Fleet Downtime with Advanced Diagnostics

This white paper examines how advanced commercial vehicle diagnostics can significantly reduce fleet downtime as heavy duty vehicles become more complex. It shows how Autel’s CV diagnostic tools enable in-house troubleshooting, preventive maintenance, and faster repairs, helping fleets cut emissions-related downtime, reduce dealer dependence, and improve overall vehicle uptime and operating costs.

Read More →
SponsoredFebruary 1, 2026

Stop Watching Footage, Start Driving Results

6 intelligent dashcam tactics to improve safety and boost ROI

Read More →
Ad Loading...
M&A illustration with Werner and FirstFleet logos
Fleet Managementby Deborah LockridgeJanuary 29, 2026

Werner Expands Dedicated Fleet Nearly 50% With FirstFleet Acquisition

The $283 million acquisition of FirstFleet makes Werner the fifth-largest dedicated carrier and pushes more than half of its revenue into contract freight.

Read More →
Bobit Business Media B2X Rewards.
Fleet Managementby News/Media ReleaseJanuary 29, 2026

Bobit Business Media Launches B2X Rewards Engagement Program

B2X Rewards is a new, gamified rewards program aimed at driving deeper engagement across BBM’s digital platforms, newsletters, events, and TheFleetSource.com.

Read More →
Trucking Trends series graphic
Fleet Managementby Deborah LockridgeJanuary 29, 2026

AI is Reshaping Trucking in 2026, from the Back Office to the Shop

Trucking’s biggest technology shifts in 2026 have one thing in common: artificial intelligence.

Read More →
Ad Loading...
Column graphic illustration with Deborah Lockridge head shot and a small fleet truck in the background
Fleet Managementby Deborah LockridgeJanuary 27, 2026

Why Small Trucking Fleets Are Still Standing [Commentary]

Why discipline, relationships, and focus have mattered more than size for smaller trucking fleets during the freight recession.

Read More →
Fleet Managementby Deborah LockridgeJanuary 23, 2026

Cargo Theft Is Surging. A Bill in Congress Could Help. [Video]

Cargo theft losses hit $725 million last year. In this HDT Talks Trucking Short Take video, Scott Cornell explains how a bill moving in Congress could bring federal tracking, enforcement, and prosecutions to help address the problem.

Read More →
CargoNet infographic showing 2025 cargo theft trends
Fleet Managementby Deborah LockridgeJanuary 22, 2026

Cargo Theft Losses Jump 60% in 2025 as Criminals Target Higher-Value Freight

Cargo theft activity across North America held relatively steady in 2025 — but the financial damage did not, as ever-more-sophisticated organized criminal groups shifted their cargo theft focus to higher-value shipments.

Read More →
Ad Loading...
Phillips Connect -- McLeod smart trailer TMS.
Fleet ManagementJanuary 22, 2026

Phillips Connect, McLeod Integrate Smart Trailer Data into TMS Workflows

A new partnership between Phillips Connect and McLeod allows fleets to view trailer health, location, and cargo status inside the same McLeod workflows used for planning, dispatch, and execution.

Read More →