NEW: U.S. economy grew at strong 3.2% rate in first quarter.
The U.S. economy grew at a solid 3.2% annual rate in the first three months of the year, a far better outcome than expected, overcoming a host of headwinds including global weakness, rising trade tensions and a partial government shutdown.
It was the strongest first quarter growth rate since 2015. In recent years, GDP has been exceptionally weak in the first quarter. There had been fears growth could dip below 1% this year due to a variety of adverse factors such as the December stock market nosedive, rising weakness in key economies overseas, the U.S. trade war with China and a 35-day partial government shutdown that ended in January.
In the first quarter, inventory rebuilding added 0.7 percentage point to growth, while a falling trade deficit boosted growth by a full percentage point. Analysts think both of those factors will reverse in the current quarter. For the year, economists believe GDP will expand 2.4%, down from last year's 2.9% gain, as the boost from the 2017 tax cuts and increased government spending over the past two years start to fade.
Mark Zandi, chief economist at Moody's Analytics, said he expects growth for this year to be around 2.2%, close to the average for the past 10 years.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
U.S. sanctions slashed more than $10 billion from Iran's oil revenue: U.S. officialU.S. sanctions against Iran have denied its government more than $10 billion in ...
और पढो »
Pompeo sees 'bumpy' North Korea talks, but hopes for several more chancesU.S. Secretary of State Mike Pompeo said on Wednesday that U.S. talks with North...
और पढो »
T Mobile, Sprint face new FCC questions on tie-upT-Mobile US Inc and Sprint Corp executives this week urged senior U.S. regulator...
और पढो »
Stock futures turn positive after upbeat U.S. GDP dataU.S. stock index futures turned positive on Friday after data showed that U.S. e...
और पढो »
U.S.' Pompeo: Americans were among those killed in Sri Lanka attacksU.S. Secretary of State Mike Pompeo said on Sunday that 'several U.S. citiz...
और पढो »
US official: Sri Lanka attacks inspired by ISIS, at least 4 US citizens killedInitial intelligence indicates that the group responsible for Sunday's attacks in Sri Lanka was inspired by ISIS, a US official tells CNN. Follow live updates:
और पढो »
U.S. arrests former Marine connected to North Korea embassy raid in SpainU.S. authorities on Thursday arrested a former U.S. Marine who is a member of a ...
और पढो »
T-Mobile, Sprint lobby regulators to win U.S. approval for tie-upSenior executives at T-Mobile US Inc and Sprint Corp made the case to U.S. offic...
और पढो »
China slams US on Iran oil sanctions, Saudi Arabia welcomes US moveBeijing said Washington's decision to impose sanctions on buyers of Iranian oil will 'intensify turmoil' in the Middle East. The US said on Monday it will penalise any imports of Iranian oil from May 2.
और पढो »
Militia group agrees to leave their encampment in New Mexico near US borderUnited Constitutional Patriots, an armed militia group, agreed to leave their encampment in New Mexico near the U.S. border.
और पढो »
US stocks hit new record highsUS stocks climbed past their all-time highs on Tuesday, as stocks continued to rally from their December lows.
और पढो »