U.S. 1Q GDP grows 2.0%, misses expectations

The U.S. Department of Commerce announced that Gross Domestic Product (GDP) grew at an annualized rate of 2.0% in the first quarter, falling short of the market forecast of 2.2%. U.S. GDP growth figures are released in three stages: an advance estimate, a preliminary estimate, and a final estimate. Today's release is the advance estimate.