by Josh Boak, The Associated Press Posted Jun 29, 2017 6:31 am MDT Last Updated Jun 29, 2017 at 9:20 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email WASHINGTON – The U.S. economy got off to a lacklustre start during the first three months of 2017, though it enjoyed more momentum than earlier estimates indicated.The Commerce Department said Thursday that gross domestic product, the broadest measure of economic health, grew at an annual rate of 1.4 per cent in the first quarter — better than a previous estimate of 1.2 per cent and double the initial estimate of 0.7 per cent. The upgrade reflects new-found strength in consumer spending and exports.The result is weaker than 2.1 per cent growth in the fourth quarter and matches the growth rate recorded the second quarter of 2016. It is still well below President Donald Trump’s ambitious growth targets of the economy growing at more than 3 per cent.Analysts expect growth to accelerate in the second quarter, fueled by solid hiring and an uptick in consumer spending. Estimates from the Atlanta Federal Reserve expect that the economy expanded at an annual pace of 2.9 per cent during the April-June quarter.Gus Faucher, chief economist at PNC Financial Services, said the slow growth at the start of 2017 “will prove temporary.” Faucher expects the economy to expand at a 2.2 per cent pace for the entire year.“The economy is expanding at a solid, if unspectacular, pace,” Faucher said.During the first quarter of the year, consumer spending grew at faster pace than earlier GDP estimates suggested. Spending on housing, health care and financial services, including insurance, rose much higher in the third estimate than the prior estimate. Consumer spending accounts for roughly 70 per cent of all economic activity.“Consumer spending still looks very soft early on this year, but the figures are not as weak as the earlier readings,” said Daniel Silver, an economist at JPMorgan Chase.The May report on consumer spending will be released Friday morning, providing a fuller sense of how consumers are faring in the current quarter.The exports of U.S. goods also improved more than previously reported, contributing to the slightly faster growth.Not all of the report was positive. Private investment in buildings and equipment slipped in the latest first-quarter estimate. US economic growth in Q1 upgraded to 1.4 per cent In this Thursday, May 4, 2017, photo, construction workers work on site of an apartment high rise in Miami. On Thursday, June 29, 2017, the Commerce Department issues the final estimate of how the U.S. economy performed in the January-March quarter. (AP Photo/Alan Diaz)