Don't look back. The economy might be gaining on you from American public media.

This is Marketplace.

In Los Angeles, I'm Kyle Rizdahl. It is Wednesday, today the 27th day of May. It is always to have you along, everybody.

You know, sometimes in this economy, as in life, you can figure out where you're going by figuring out where you've been.

So we begin today by looking back. back to the first quarter of the year

and an update on Q1 gross domestic product that we are going to get tomorrow morning.

The first look that we got from the Bureau of Economic Analysis, this was last month,

came in at an annualized growth rate of 2% January through March. Tomorrow's revision will fill in some more of that data from March, especially, as you

recall, the first full months of the president's war with Iran.

Marketplace's Henry App gets us going with economic growth at the beginning of the year

and what it might tell us about the economy today.

These revisions are going to give us a better sense of whether

the Iran war has hurt the fairly positive momentum in the U.S. economy. The revised data could have both

positive and negative effects on each of the components that make up GDP. Let's start with net exports.

The U.S. now sends a lot of oil and gas overseas. So the spike in prices might drive

that number up and raise GDP, says Ishwar Prasad at Cornell. Even if the volumes of U.S. exports,

especially energy exports, stayed the same, just the increase in prices could have given a bit

of a boost to exports. On the flip side, the first quarter was also when President Trump's tariffs were struck

down by the Supreme Court, which may have led to more imports.

That would pull GDP down.

The next component of GDP is business investment.

In the last few quarters, that's basically meant investment in AI data centers.

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