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. Last Updated: 07/27/2016

U.S. GDP Grows 4%

WASHINGTON -- The U.S. economy, powered by the biggest boom in consumer spending in more than a decade, grew at a robust annual rate of 4.1 percent in the first three months of the year, the government said.

The Commerce Department said the increase in gross domestic product, the total output of goods and services, occurred despite the fact that the U.S. trade deficit from January through March was even worse than originally believed.