Financial Times FT.com

US trade balance boosts GDP

By Chris Bryant in Washington

Published: May 29 2008 15:01 | Last updated: May 29 2008 15:49

A narrower US trade deficit helped the economy grow at a 0.9 per cent annual rate in the first three months of this year according to preliminary government data published on Thursday.

First quarter gross domestic product was revised higher from an originally reported 0.6 per cent annual rate, adding weight to the argument that the US economy did not fall into recession at the turn of the year.

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