6/24, 2:32 PM (Source: TeleTrader)
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US GDP expands at 6.4% annual rate in first quarter

The United States economy expanded at an annualized rate of 6.4% in the first quarter, according to the third estimate released by the Bureau of Economic Analysis on Thursday, due to the recovery from the coronavirus pandemic picking up speed. The figure is unchanged compared to the second GDP reading released last month.

The price index for gross domestic purchases climbed 4% in the first quarter after increasing 1.7% in the fourth quarter. Meanwhile, the PCE price index rose 3.7% following a 1.5% increase in the previous quarter.

The US economy grew at a 4.3% annual pace in the fourth quarter.

Breaking the News / JC