The United States economy grew by 0.6 per cent in the first quarter of 2008, according to an initial estimate from the US government Wednesday, tempering fears that the world's largest economy has tipped into a recession, dpa reported.
The seasonally-adjusted figure is the same as that in the fourth quarter of last year, suggesting there has not been a further slowdown in growth as had been feared by many economists.
The Commerce Department attributed the Gross Domestic Product (GDP) rise to an increase in inventories and in exports, amid a downturn in consumer spending.
The US Federal Reserve later Wednesday will consider whether to further lower interest rates in light of the new growth figures. The initial GDP estimate will be revised in late May and June.