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To: niceguy767 who wrote (78471)	4/26/2002 8:43:30 AM
From: Joe NYC	Read Replies (3) \| Respond to of 275872

GDP Surged 5.8 Percent in First Quarter Fri Apr 26, 8:39 AM ET WASHINGTON (Reuters) - The U.S. economy surged in the first quarter at the fastest pace in more than two years as consumers spent solidly and a year-long trend of sharp cutbacks in business inventories showed signs of tapering off, the government said on Friday. The latest report from the Commerce Department (news - web sites) showed the economy snapping back sharply from one of the mildest recessions in history but may not fully resolve lingering concerns about the strength of economic growth going forward. U.S. gross domestic product, measuring the amount of goods and services produced within U.S. borders, bolted ahead at a 5.8 percent annual rate in the first three months of this year -- a full percentage point higher than the forecasts of private economists. The latest growth in GDP (news - web sites) was the strongest since the economy soared 8.3 percent in the final quarter of 1999.