The U.S. economic activity grew at an annual rate of 2.2% between January and March, eight tenths of a percent less than the previous quarter, the Commerce Department today.
The first of the three calculations made by the government on the gross domestic product (GDP) quarterly disappointed the markets as most analysts expected an increase of 2.7 percent.
Spending by consumers in the U.S. represents almost 70 percent of economic activity, increased 2.9% in the quarter to exceed analysts’ forecasts.
Despite the slowdown that shows this initial calculation, the first quarter of 2012 and 2011 marked the last period of more robust GDP growth since July 2009 United States emerged from its recession deeper and longer in nearly eight decades .
Among the factors that slowed the pace of economic growth between January and March cited a decrease in government spending and a smaller increase in inventories slowed.
The Federal Reserve reported this week that he expects the U.S. economy to grow between 2.4 and 2.9% this year, two tenths of a percent higher respectively than expected in January.
In January the central bank estimated that GDP would grow between 2.8 and 3.2 percent in 2013, and now the prognosis is less optimistic with an estimated increase of between 2.7 and 3.1 percent.