US first-quarter GDP rose 3.2%, vs 2.5% growth expected
div > div.group > p:first-child"> First-quarter GDP expanded by 3.2% in the first quarter, the Bureau of Economic Analysis said. Economists polled by Dow Jones expected the U.S. economy had grown by 2.5% in the first quarter. It was also the first time since 2013 that first-quarter GDP topped 3%.
Friday's data was the first look at how the economy fared during the longest government shutdown in history. The federal government seized operations for 35 days between late December and Jan. 25 amid a standoff between the Trump administration and congressional leaders over funding for a wall along the U.S.-Mexico border.
Investors were closely watching out for the report as they looked for more confirmation that a recession may not be in the cards over the short term. The S&P 500 is up 16.7% this year after the Federal Reserve reversed course in its path to tighter monetary policy, easing fears that a recession may be imminent.Subscribe to CNBC on YouTube.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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...
Read more »
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 ...
Read more »
T Mobile, Sprint face new FCC questions on tie-upT-Mobile US Inc and Sprint Corp executives this week urged senior U.S. regulator...
Read more »
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:
Read more »
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...
Read more »
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 ...
Read more »
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...
Read more »
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.
Read more »
Boeing 737 MAX joint governmental review will begin April 29: FAAThe U.S. Federal Aviation Administration said Friday that a joint governmental r...
Read more »
US Treasurys higher ahead of GDP dataU.S. government debt yields were lower Friday morning, as investors awaited key economic data.
Read more »
The American economy looked like a drag just a few months ago. Not anymoreThe US government will report first quarter GDP on Friday, and economists are predicting solid numbers.
Read more »