GDP grows 5.6 percent in 1st quarter, fastest pace in 9 years.(Originated from Bridge News)

From: Knight Ridder/Tribune News Service | Date: April 30, 1997 | Copyright information

WASHINGTON _ Consumer spending boosted the economy in the first quarter, with gross domestic product growing at a 5.6 percent seasonally adjusted annual rate, the Commerce Department said Wednesday.

That follows a 3.8 percent gain in the fourth quarter, and was the fastest pace since the fourth quarter of 1987, when GDP grew 6.0 percent, a Commerce official said.

First-quarter real final sales rose 3.9 percent after increasing 4.9 percent in the fourth. ...

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