Economic news

Review: U.S. GDP expands at a 1.4% annual pace in Q1

U.S. GDP in the first quarter of 2017 grew at a 1.4 percent annual rate after increasing 2.1% in the fourth quarter of last year, according to the revised data of the Commerce Department.

Consumer spending rose 1.1% in the first three months from a prior 0.6% reading.

According to data, consumers spent on financial services, insurance and health care more than previously estimated.

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