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International Business Times
International Business Times
Business
Demian Bio

U.S. Economy Expands By 2% In First Quarter But Iran War Muddies The Outlook

Soaring oil prices are impacting inflation and clouding the economic outlook. (Credit: Brandon Bell/Getty Images)

The U.S. economy expanded by 2% in the first quarter of the year, rebounding after the last three months of last year's 0.5% increase.

The Commerce Department noted that the federal government's spending and investment grew by 9.3% annual rate in the reported period, adding more than half a percentage point to growth.

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