The U.S. economy grew at a faster pace than expected in the first quarter and posted its best growth to start a year in six years.
First-quarter Gross Domestic Product expanded by 3.2% in the first quarter, the Bureau of Economic Analysis said. Economists polled by Dow Jones expected the U.S. economy increased by 2.5% in the first quarter... the first time since 2013 that first-quarter GDP topped 3%.
The report also said disposable personal income increased by 3%, while prices increased by 1.3% when excluding food and energy.
Friday’s data was the first look at how the economy fared during the longest government shutdown in history. The federal government ceased operations for 35 days between late December and the latter part of January amid a standoff between the Trump administration and congressional leaders over funding for a wall along the U.S.-Mexico border.
