The economy US economy doing slightly better than expected

The US economy grew somewhat more strongly at the beginning of the year than previously expected.

In the first quarter, gross domestic product (GDP) rose by 1.4 percent on an annualized basis compared to the previous quarter, according to a third estimate released by the Department of Commerce on Thursday.

A previous estimate was raised by 0.1 percentage points. In the final quarter of 2023, the world's largest economy had grown by a much stronger 3.4%.

US growth figures are annualized, i.e. extrapolated to the year as a whole. They indicate how strongly the economy would grow if the pace continued for a year. This method is not used in Europe, which is why the figures are not directly comparable. To arrive at a growth rate comparable with Europe, the US rate would have to be divided by four.