First-Quarter GDP Rose 2.2%

The U.S. economy rose at a 2.2% annual rate in the first quarter, the Commerce Department said Friday.

The gross domestic product growth rate followed a 3% pace in the fourth quarter.

The first-quarter GDP figure was below economists’ projections of a 2.5% rate, Bloomberg reported.

The figure was the first for the quarter to be released by Commerce, which will issue two subsequent revisions.