US growth in January-March upgraded to still-slow 1.2%

The U.S. economy began 2017 with a whimper — though not quite as weak a whimper as the government had first estimated.

The gross domestic product — the broadest gauge of the economy — expanded in the January-March quarter at a 1.2 percent annual rate, the government said Friday. That was better than its initial estimate of a 0.7 percent rate but far below President Donald Trump’s growth targets, which most economists consider unrealistic.

The government’s upgraded estimate of first- quarter growth reflected new-found strength in consumer spending, business investment and state and local government spending.

Many analysts have estimated that growth in the current April-June quarter is rebounding to an annual rate above 3 percent. They envision stronger consumer spending fueled by solid hiring, with unemployment at a decade low.