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.