The U.S. economy expanded at a faster-than-expected pace during the first quarter, according to government data released Thursday.
The Commerce Department’s Bureau of Economic Analysis reported the economy grew at an annualized rate of 2.1% in the January-March period, exceeding economists’ projections.
The median forecast from economists surveyed by LSEG had estimated 1.6% growth. The BEA’s initial estimate of 2% for the quarter was revised upward to the final figure of 2.1%.
Analysts had been tracking the report closely amid ongoing economic uncertainty.
