According to the data released from the Commerce Department, the data shown prove that the U.S economy grew an annual rate of 2.4% in the first three months of the year.
On Thursday, The department’s Bureau of Economic Analysis said that the figures were slightly slower than the 2.5% rate predicted for the quarter to 24%. Although the consumer spending were stronger than expected. Some of the other reports released on Thursday were the increased in the jobless claims in the past week and the positive signs of recovery in the housing market. Read more