That's modest growth, and was below the 3.2 percent pace economists had expected to hear about. But growth was up substantially from fourth-quarter 2012, when the economy expanded at a scant 0.4 percent annual rate.
I spoke yesterday with Dan Sichel, a Wellesley economist and a Lady Gaga fan. Both of these facts are relevant for this story.
The U.S. government is about to tweak the way it measures the economy, and some of the biggest changes will affect the entertainment industry.
Under the current system, Sichel told me, Lady Gaga's sales of concert tickets, online songs and CDs all count toward gross domestic product. But the value of the time she spends in the studio working on new songs isn't counted. That's about to change.