Economy grew at 3.2% in first quarter, beating expectations

Monday, April 29, 2019 | Tag Cloud Tags: , , , ,

(Worthy News) - The economy grew at a 3.2% annual rate in the first quarter, the Bureau of Economic Analysis reported Friday morning, easily beating forecasters' expectations.

The healthy growth rate in gross domestic product also improved on the 2.2% rate seen in the fourth quarter of 2018, despite several economic headwinds in the first quarter of this year, such as the partial government shutdown and a slowdown in the global economy. The bureau said that the pick-up in growth was driven by stronger state and local government spending and exports.

President Trump has promised sustained 3% annual GDP growth, a promise that was narrowly fulfilled in 2018 — depending on how you measure GDP. [ Source: Washington Examiner (Read More...) ]

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