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U.S. Economy Grew 1.1% in First Quarter
America’s real gross domestic product increased at an annual rate of 1.1% in the first quarter of 2015, not 0.8% as previously estimated, according to the U.S.
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America’s real gross domestic product increased at an annual rate of 1.1% in the first quarter of 2015, not 0.8% as previously estimated, according to the U.S. Bureau of Economic Analysis.
The country’s economy expanded by 1.4% in the previous quarter. The bureau attributes growth in January-March to increased personal spending, a rise in residential fixed investment and greater spending by state and local governments. Imported decreased, and exports rose faster than previously estimated.
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