Published: Jun 25, 2010 1:43 PM EDT
Updated: Jun 25, 2010 10:45 AM EDT

WASHINGTON (AP) - The government lowered its estimate of how

much the economy grew in the first quarter of the year, noting that

consumers spent less than it previously thought.

The Commerce Department says that gross domestic product rose by

2.7 percent in the January-to-March period, less than the 3 percent

estimate for the quarter that the government released last month.

It was also much slower than the 5.6 percent pace in the previous


The department's report is the third of three estimates it makes

for each quarter's GDP, the broadest measure of the nation's

economic output. The first quarter's growth rate declined from

earlier reports because consumers spent less than previously

estimated, while the nation imported more goods from overseas.