US economy grows by 2.5 percent

  • The US economy grew at an annual rate of 2.5 percent in the first three months of the year on the back of stronger consumer spending.

    The figures, released on Friday, were lower than analysts' expectations but surpassed the 0.4 percent rate recorded in the final quarter of last year.

    Consumer spending rose at an annualized rate of 3.2 percent, according to the Commerce Department data.

    Consumer spending makes up for more than two-thirds of US economic activity.

    The rise during the first quarter is the fastest since the last quarter of 2010.

    The US economy has now grown for 15 successive quarters.