US GDP growth less than expected during first quarter

[dArKeR]

REUTERS , WASHINGTON
Saturday, May 01, 2004,Page 12

The US economy grew steadily but less robustly than anticipated during the first quarter, the government reported on Thursday, while inflation added momentum that may be worrisome for Federal Reserve policy-makers.

The Commerce Department said GDP expanded at a 4.2 percent annual rate in the January-March period, well under the 5 percent forecast. That followed growth of 4.1 percent in the fourth quarter and a sizzling 8.2 percent in the third quarter of last year.

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