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U.S. Recovery Gains Steam as Spending Fuels 6.4% GDP Growth

  • Value of total output closes in on pre-pandemic peak
  • Personal spending topped estimate with annualized 10.7% gain
Bloomberg business news
U.S. Jobless Claims Fall, GDP Shows Economic Resurgence
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U.S. economic growth accelerated in the first quarter as a rush of consumer spending helped bring total output to the cusp of its pre-pandemic level, foreshadowing further impressive gains in coming months.