U.S. real gross domestic product (GDP) figures for the first quarter of last year increased at a healthy pace. However, a series of interest rate hikes by the Fed risks slowing growth this year.
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Consumer spending, the largest segment of the U.S. economy, rose 2.1%, weaker than expected.
See table for detailed statistics.
Original title:US Economy Expands at a Faster-Than-Expected 2.9% Pace(excerpt)
(Add and update stats details)
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