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U.S. Economy Grew Modestly in First Quarter
America's gross domestic product expanded 1.9% in the January-March period from the previous three months, the Dept. of Commerce says.
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America's gross domestic product expanded 1.9% in the January-March period from the previous three months, the Dept. of Commerce says. The department's third and final estimate of GDP growth was unchanged from its previous report.
The latest estimates of exports, business investments and inventories showed slower growth than previously thought. The increase in consumer spending during the first quarter also was revised downward to 2.5% from the previous estimate of 2.7%. Those figures were offset by higher real estate investment and corporate profits.
Economists opine that the economy accelerated at the same pace or slower during the current quarter.
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