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Real GDP grew at a 3.2% annual rate in the first quarter, beating the forecast from every economics group and crushing forecasts from as recently as a couple of months ago that the economy would start the year by barely growing at all. What's impressive about this is that in recent years the first quarter has tended to be slower than the rest of the year; from 2010 through 2018, Q1 real GDP growth averaged 1.7% annualized versus 2.5% for the other three quarters. The 3.2% annualized gain this year in the first quarter is 1.5 percentage points above the average from 2010-18.

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