Consumer Rebound Gives Economy Solid Boost
(AP) — The economy grew at a solid 3.2 percent pace during the first quarter of this year as consumers boosted their spending by the most in three years.
The Commerce Department’s initial estimate of the economy’s performance in the January-to-March quarter, released Friday, provided more evidence that the economy is strengthening. It marked the third straight quarterly gain as the United States heals from the longest and deepest recession since the 1930s. Still, growth was weaker than in the fourth quarter of last year, when the economy grew at 5.6 percent.
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