U.S. Economy Exceeds Experts Predictions In First Quarter, GDP Grows By 3.2%
By Fox Business // April 26, 2019
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(FOX BUSINESS) – The U.S. economy grew more quickly than most economists expected during the first quarter of 2019, according to data released Friday by the Commerce Department.
During the three-month period from January to March, the GDP rose at a 3.2 percent annualized rate, beating most analysts’ expectations of 2.5 percent.
It also bested GDPNow, a real-time tracker monitored by the Federal Reserve Bank of Atlanta, which lowered its forecast to 2.7 percent this week because of weakness in existing-home sales and a drop in residential investment growth.
The economy largely shook off the effects of a five-week long government shutdown — the longest in U.S. history — that White House officials once warned could result in near-zero growth. The standoff was a result of a feud between President Trump and Democratic congressional leaders over funding for a wall along the U.S.-Mexico border.
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