U.S. Economy Grew at 3.2% Rate in First Quarter

The report indicates that the 10-year recovery retains momentum, despite recent fears that the year was off to a slow start.

Rumors of the economic expansion’s death appear to have been greatly exaggerated.

Gross domestic product, the broadest measure of goods and services produced in the economy, rose at a 3.2 percent annual rate in the first three months of the year, the Commerce Department said Friday. That is significantly better than most economists expected, and far better than the dour forecasts of early this year, when many forecast a...