U.S. GDP Growth Unexpectedly Accelerates In Q1

(RTTNews) - U.S. economic growth unexpectedly showed a significant acceleration in the first quarter of 2019, according to a report released by the Commerce Department on Friday.

Preliminary data showed real gross domestic product jumped by 3.2 percent in the first quarter after climbing by 2.2 percent in the fourth quarter of 2018.

The acceleration in the pace of growth came as a surprise to economists, who had expected GDP to increase by 2.1 percent.

The faster GDP growth reflected an upturn in state and local government spending, accelerations in private inventory investment and exports, and a smaller decrease in residential investment.

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