The economy grew at an annual rate of 4.2% in first-quarter 1998

By Staff -- Purchasing, 5/21/1998

The economy grew at an annual rate of 4.2% in first-quarter 1998. Most economists were expecting the first-quarter growth rate to fall somewhere in the low 3% vicinity. Good news is that inflation was nowhere to be seen. Uncle's chain price index rose at a mere 0.9% rate compared to a 2.4% rate in first-quarter 1997. An increase in the trade deficit took an estimated two points off the total GDP figure for first quarter. Inventory activity was neutral.

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