The Commerce Department says the overall economy as measured by the gross domestic product contracted at an annual rate of 0.7 percent in the January-March period.

The revised figure, even weaker than the government’s initial estimate of a 0.2 percent growth rate, reflects a bigger trade gap and slower consumer spending.

It marked the first decline since a 2.1 percent contraction in the first three months of 2014, a slump that was also blamed on winter weather.