US Economy Performs Strongly In Q1
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2019-04-26 HKT 21:08
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The US economy kicked into high gear in the first three months of the year, quashing fears of a slowdown, the government reported on Friday.
GDP expanded at an annual rate of 3.2 percent in the January-March period, smashing economists' expectations and surpassing the 2.2 percent growth in the final quarter of 2018, according to a preliminary estimate by the Commerce Department.
The hotter growth came despite a lengthy federal government shutdown and was driven by a dip in imports, a bump in spending by state and local governments, faster inventory building by companies and some recovery in home sales. (AFP)
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