Overall economic activity in the U.S. cooled slightly in the first quarter of the year as consumer spending eased, but the performance was better than analysts were expecting. The gross domestic product (GDP) increased at an annual rate of 2.3%, according to the first of three estimates from the Commerce Department. This compares to a consensus estimate from analysts of a 2% annual performance, but it’s down from the 2.9% annual rate in the final quarter of 2017.
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