FXstreet.com (Barcelona) - US Gross Domestic Product grew at a 1.0% pace in the firs three months of the year, according to the final figures released by the US Commerce Department.

This increase shows an acceleration of the US GDP in the first three months of the year, compared to the 0.6% increase posted in the last three months of the previous year. In the preliminary estimated, GDPO increase was seen 0.9%.

The increase in the first quarter has been largely due to personal consumption expenditures for services, exports of goods and services, and federal government spending, which have been partly offset by negative contributions from residential fixed investment and PCE for durable goods.

The Price Index for gross domestic purchases has risen 3.6% in the first quarter, 0.1% above the preliminary estimate, while real personal consumption expenditures have increased 1.1% in the first quarter, down from 2.3% in the fourth.