WASHINGTON, DC – Real gross domestic product (GDP) grew at an annual rate of 5.4% in the first quarter, according to the preliminary estimate from the Department of Commerce.
This fell short of the robust, 7.3% growth rate in the final quarter of 1999, noted David F. Seiders, chief economist and senior staff vice president of the National Association of Home Builders (NAHB), but remained well above the prevailing estimates of sustainable growth.