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US First Quarter Growth Not as Bad as First Thought

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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 Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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