The economy is a bit sluggish but still growing.

I'm NovaSopho with a marketplace minute.

The Commerce Department has revised down its estimate of economic growth in the first three months of the year.

First quarter GDP grew at a 1.3% annual

pace down from an earlier estimate of 1.6%. More consumer spending on services powered

much of the growth. federal government spending declined.

More recently, wholesale inventories increased two-tenths percent between March and April.

This tells us that consumer spending may have picked up a bit since the first

quarter. Dollar Tree says it will reopen 99 cents only stores in the southwest, 170 of them

that closed after the retailer went bankrupt last month.

Dollar Tree will rebrand those locations.

Initial claims for unemployment benefits, a proxy for layoffs,

were essentially flat last week at 219,000.

The Labor Department says continuing claims remained at 1.8 million.

That means the labor market remains strong.

I'm Novasapo with a marketplace minute.