The US economy grew slightly faster in the first quarter of 2016 than originally thought but the overall growth was still anemic, underscoring some persistent weaknesses, especially in manufacturing.
US economic growth in the first quarter of 2016, between January and March, was 0.8 percent, the US Commerce Department said Friday.
That’s better than the initial government’s estimate of 0.5 percent, which came in April, but still pretty sluggish.
The overall gains are still likely to fall short of what many experts and ordinary workers would hope to see as the recovery nears the end of its seventh year.
“It was still a tepid quarter even if it was less bad. That doesn’t equal good growth,” said Diane Swonk, an independent economist based in Chicago.
Next week should provide greater clarity about the economy’s real momentum. On Tuesday, the Commerce Department will report on consumer income and spending in April, and Friday will bring the Labor…