Daily News: April 26, 2013

Economic Growth in U.S. Probably Picked Up in Q1/13

Bloomberg reported the U.S. economy probably accelerated in the first quarter as consumer spending grew by the most in two years and businesses rebuilt inventories.

Bloomberg noted, according to the median forecast of 86 economists surveyed, gross domestic product rose at a 3% annualized rate after expanding at a 0.4% pace in the final three months of 2012.

Bloomberg said, according to the survey median, the GDP report may show consumer spending grew at a 2.8% annualized rate, the strongest since the first quarter of 2011.

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