The economy was supposed to slow down sharply this year because of higher interest rates. But U.S. grew at a solid 2% annual rate in the first quarte
Gross domestic product was revised up from a previously reported 1.3% growth rate, the government said Thursday. GDP is the official scorecard of the economy.Gross domestic product was revised up from a previously reported 1.3% growth rate, the government said Thursday. GDP is the official scorecard of the economy.
Key details: The increase in GDP in the first quarter was led by strong consumer spending, the main engine of the economy. GDP is updated twice after the initial results are published to incorporate new information not immediately available.
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