US economic growth stronger than expected

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The US economy grew much faster than expected in the first quarter of the year, helped by a jump in exports and by firms building up stocks of goods.

The economy expanded at an annualised pace of 3.2% in the January-to-March period, well above analysts’ forecasts.

The growth figure also showed that the economy has accelerated since the previous quarter, when it grew at a pace of 2.2%.

Government spending also boosted growth, but consumer spending slowed.

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