WASHINGTON (AP) — The U.S. economy expanded a little faster at the beginning of the year than previously estimated. But the pace was still anemic and economists don't see that changing until later this year.
The Commerce Department on Friday said the economy grew at an annual rate of 1.9 percent in the January-March quarter. That's not much better than the 1.8 percent rate estimated a month ago. The small upward revision reflected stronger exports and more business spending on stockpiles.
High gas prices were a major reason growth slowed. The impact of those prices has carried over into to the current quarter. The economy is growing in the current April-June quarter at a rate of about 2.3 percent, according to an Associated Press survey of 38 top economists.
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