Q1 GDP Grows 1.9%, In Line With Expectations

Ford Assembly Line Car Auto Manufacturing Production U.S. EconomyWorkers build a Ford Focus on the assembly line at Ford Motor Co.’s Wayne Michigan Assembly Plant.

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UPDATE:First quarter GDP grew in line with expectations and an earlier reading, new data out of the Bureau of Economic Analysis shows. 

The third reading showed the economy expanded at an annualized pace of 1.9 per cent during the first three months of 2012.

However, the BEA revised personal consumption 20 basis points lower, to 2.5 per cent.

ORIGINAL:

The final revision to first quarter GDP is moments away, with economists anticipating no change to the headline rate.

The second reading’s 1.9 per cent annualized growth rate is expected to hold, while personal consumption remains at 2.7 per cent growth.

The announcement is timed for 8:30 a.m.

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