First-Quarter GDP Revised Up to 0.9%
The U.S. economy grew at a 0.9% annual rate in the first quarter, more than the 0.6% first reported last month, the Commerce Department said Thursday.
The increase in the gross domestic product followed a 0.6% gain in the fourth quarter and matched economists’ projections, Bloomberg reported.
Thursday’s GDP report was the second of three reports by Commerce.
Along with the fourth quarter’s 0.6% rise, the reading marked the smallest consecutive increase in GDP in five years.