Economy grew 3.2 percent in first quarter

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U.S. gross domestic product increased 3.2 percent in the first quarter of 2010, according to the "advance" estimate by the Bureau of Economic Analysis.

In the fourth quarter, GDP increased 5.6 percent.

"The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures, private inventory investment, exports and non-residential fixed investment that were partly offset by decreases in state and local government spending and in residential fixed investment," the bureau said in a statement.

Click here for the full release from the Bureau of Economic Analysis.

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