US First Quarter Growth Not as Bad as First Thought

The U.S. economy didn’t perform all that badly in the first three months of 2017, growing twice as fast as the government originally reported.

Gross domestic product, the official scorecard for the economy, expanded at a 1.4% annual pace in the first quarter, revised figures show.

That’s a few ticks better than the prior 1.2% reading and double the initial 0.7% estimate.

The upshot: The economy saw little change amid a switchover from the Obama administration to the Trump White House. The U.S. grew 2.1% at the end of 2016.

MarketWatch

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.