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U.S. Economy Grew 1.2% in First Quarter
The American economy expanded at an annualized 1.2% in January-March, according to an updated estimate from the U.S. Dept. of Commerce’s Bureau of Economic Analysis.
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The American economy expanded at an annualized 1.2% in January-March, according to an updated estimate from the U.S. Dept. of Commerce’s Bureau of Economic Analysis. That compares with BEA’s initial estimate of 0.7%.
The bureau says consumer spending and nonresidential fixed investments were higher than initially estimated. Exports also were stronger than previously thought.
The agency adds that real gross domestic income in the first quarter grew by 0.9% compared with a decrease of 1.4% in the previous period.
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