US economy in the first quarter increased by 2.3%

The US GDP in the first quarter grew by 2.3% in annual terms, preliminary data from the Ministry of Commerce showed. Compared to growth in the fourth quarter of 2017, the rate of economic growth slowed by 2.9%. Nevertheless, the dynamics turned out to be better than the forecasts of analysts, who on average had expected the growth rate of 2%. The PCE Core index grew by 2.5%, showing the fastest pace since 2011. Investments in housing construction did not change. State spending grew by 1.2%. The growth of investments in fixed assets amounted to 6.1%, expenditure on equipment – to 4.7%. Exports grew by 4.8%, imports - by 2.6%.

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