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. Last Updated: 07/27/2016

U.S. Economy Growth

WASHINGTON -- A consumer spending binge gathered steam in the first quarter of 2000, helping push the economy ahead at a vigorous pace, but slower than at the end of last year, the government said Thursday in a report that also showed prices picked up sharply.

Gross domestic product expanded at a 5.4 percent annual rate in the three months from January through March, down from 7.3 percent in the fourth quarter last year.

While economic performance was slightly weaker than the 5.9 percent growth forecast by Wall Street economists, it featured the strongest consumer spending in nearly nine years and robust business investment.