WASHINGTON (AP) — The government says the economy grew at a solid 3.2 percent pace during the first quarter of this year as consumers boosted their spending by the most in three years.
Friday’s report provides more evidence that the recovery remains on track. It marked the third straight quarterly gain as the United States heals from the longest and deepest recession since the 1930s. But that’s weaker than the fourth quarter of last year, when the economy grew at 5.6 percent.
Consumers increased their spending this quarter at a 3.6 percent pace, the strongest showing since early 2007. That marked a big improvement from the fourth quarter when consumer spending grew at just a 1.6 percent pace.
