U.S. Economy Probably Grew at Slower Pace as Fuel Prices Rose

The U.S. economy probably grew at a slower pace in the first quarter as higher gasoline prices prompted American consumers to curb spending, economists said ahead of a government report today.

Gross domestic product rose at a 2 percent annual pace after increasing at a 3.1 percent rate in the previous three months, according to the median estimate of 80 economists surveyed by Bloomberg News. Household purchases from January through March may have advanced at half the pace as the fourth quarter 2010.