US economy grew at slightly faster 1.1 percent in Q1
WASHINGTON — The U.S. economy grew slightly faster at the start of the year than previously estimated, even though consumer spending posted the smallest gain in two years.
The gross domestic product expanded at an annual rate of 1.1 percent in the first quarter, an improvement from the 0.8 percent rate released last month, the Commerce Department reported Tuesday.
While growth prospects for the spring look even better, the shockwaves from Britain's decision to leave the European Union could spread to the U.S. economy in the coming months. Economists forecast growth of around 2.5 percent in the current quarter.