US GDP growth misses forecasts at 2.5 per cent

Suzie Neuwirth

US GDP grew at a rate of 2.5 per cent in the first quarter, falling short of analysts’ expectations of three per cent.

Data from the US Department of Commerce’s Bureau of Economic Analysis said that the growth reflected an upturn in private investment and exports, partially offset by an upturn in imports and a deceleration in non-residential investment.

“Consensus may have wanted 3% but it’s still decent given the global economic climate,” said Mike van Dulken, head of research at Accendo Markets.

The US figures are still subject to revision, said the Bureau.