The US economy has grown at an annualised rate of 3.2% in the first three months of the year, official figures have shown.The continued recovery in the world's biggest economy was founded on strong personal consumption, the U.S Commerce Department has said.Ant it tells us something to look forward to now.
The economy has grown at a rate of 5.6% in the final quarter of 2009.Part of the reason had been the slower growth and reduced government spending and a fall in exports.Exports grew by 5.8%, significantly less than the 22.8% growth rate in the final three months of 2009.
The annualised rate of economic growth takes the growth over a three-month period and projects what it would be over a 12-month period.
"We're surely seeing the beginning of the process of a broad-based recovery."
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