Economy | Business

Economy Picked Up In First Quarter: Grew At 2.5 Percent Pace

NPR | April 27, 2013 10:20 a.m.

Contributed By:

Mark Memmott

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The U.S. economy grew at a 2.5 percent annual rate in the first quarter of 2013, the Bureau of Economic Analysis estimated Friday morning.

That’s modest growth, and was below the 3 percent pace economists had expected to hear about. But growth was up substantially from fourth-quarter 2012, when the economy expanded at a scant 0.4 percent annual rate.

The agency will issue revised estimates of first-quarter growth in each of the next two months, so the figure could change.

We’ll have more from the report and reactions to it as the morning continues.

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