From the FINANCIAL TIMES:
The US economy continued to grow at a healthy clip in the first three months of the year, as measures to stimulate output spurred spending and helped the recovery gain momentum.
Gross domestic product grew at an adjusted annual rate of 3.2 per cent in the first quarter, Department of Commerce figures showed on Friday. That was slightly weaker than Wall Street analysts had expected and followed 5.6 per cent growth in the fourth quarter of last year.
During the previous quarter, a massive inventory swing accounted for two-thirds of the economy’s expansion. That impact, which tends to be cyclical, slowed at the beginning of the year, but the consumer has started to pick up the slack…
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