US GDP blows past estimates despite slowdown in consumer spending

[m.knox]

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https://www.yahoo.com/news/comes-gdp-121057940.html

• The US economy grew faster than expected in the first quarter, according to an advance estimate of gross domestic product from the Commerce Department.
• But GDP growth early this year slowed from the fourth quarter of 2017 as consumers spent less.
• Spending surged late last year amid the holidays and as people continued to replace items damaged by hurricanes in the summer.
• Seasonal-adjustment glitches tend to depress first-quarter growth relative to the rest of the year.