U.S. GDP expanded at unrevised 6.4% rate in first quarter

The numbers: The U.S. economy expanded at an annual 6.4% pace in the first quarter unrevised from the prior estimate released last month, the Commerce Department said Thursday.

Economists polled by the Wall Street Journal were expecting a 6.6% rate.

While consumer spending was revised higher, this was offset in part by stronger import growth, the government said.

Big picture: Looking ahead, economists predict GDP will grow at an 8.2% annual rate in the second quarter.

JP Morgan Chase & Co CEO Jamie Dimon said Wednesday he thinks that the strength in the U.S. economy can last into 2023.

Market reaction: Stocks DJIA, +0.03% SPX, +0.19% were set to open lower Thursday after eking out small gains on Wednesday.

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