Stronger consumer spending nudged U.S. economic growth forward at a brisker pace than first thought in the first quarter, the Commerce
Department said today.
The gross domestic product, the broadest measure of economic output within
U.S. borders, grew at a revised 1.9 percent annual rate in the January-March
quarter, a revision upward from 1.6 percent estimated a month ago. The first-quarter expansion exceeded the 1.4 percent rate of growth posted in the fourth quarter of last year.