Economics
U.S. Economy Grew 1.9% in First Quarter, Above Prior Estimate
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The U.S. economy grew at a 1.9 percent pace in the first quarter, marking the start of what Federal Reserve policy makers project is a temporary slowdown in growth.
The revised rise in gross domestic product matches the median forecast of economists surveyed by Bloomberg News and follows a 3.1 percent gain in the prior quarter, Commerce Department figures showed today in Washington. The government last month estimated first-quarter growth at 1.8 percent. The figures also showed inflation climbed more than previously calculated.