3.4% GDP Rate Predicted for 1st Quarter

On Friday, the Commerce Department will report on the gross domestic product for the first quarter. Analysts predict the U.S. economy held onto its pep in the period as low unemployment, low inflation and an advancing stock market fueled consumer spending. GDP, the nation’s total output of goods and services, probably expanded at 3.4% annual rate in the first three months of the year. That would follow the fourth quarter’s 6% growth spurt, the fastest GDP pace in more than two years.