The US economy shrank at the start of the year, restrained by weaker consumer spending and an even bigger impact from trade than initially reported.

The slight upward revision in GDP reflected stronger business investment and a greater accumulation of inventories. Federal government spending wasn't as much of a drag as originally reported

The economy’s primary growth engine — consumer spending — advanced 1.2%, down from an initial estimate of 1.8% and the weakest pace in almost two years. Meantime, net exports subtracted nearly 5 percentage points from the GDP calculation, slightly more than the first projection and the largest on record.