The U.S. economy grew at the start of the year somewhat faster than previously expected. In the first quarter, gross domestic product rose 1.4 percent on an annualized basis compared with the previous quarter, the Commerce Department said Thursday in Washington after a third estimate.
The previous estimate was raised by 0.1 percentage point. In the last quarter of 2023, the world's largest economy grew significantly by 3.4 percent.
US growth figures are estimated on an annual basis, that is, they are extrapolated over the course of the year. It indicates how much the economy will grow if the pace continues for a year. This method is not used in Europe, which is why the numbers cannot be compared directly. To get a similar growth rate to Europe, you would have to divide the US rate by four. (hcl/sda/ob/dpa)
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