The economic outlook for the U.S. has improved slightly in the first quarter, according to the latest Economic Outlook Report from the Congressional Budget Office.
The economy increased by 0.1 percent in the quarter ending March 31, according the report, which came on the heels of a 1.3 percent increase in the previous quarter.
In addition, the report also found that the unemployment rate fell from 6.3 to 6.1%.
The number of jobs created in the fourth quarter of the current fiscal year was also revised up from a revised reading of 6.7 million to 6 million.
Additionally, the Congressional Research Service added a number of key indicators to its Economic Forecast database that were released earlier this month.
The latest update comes as the U,S.
and global economies are poised to expand in 2018.
The report said the economy is forecast to grow by an annualized rate of 2.7 percent this year, with inflation expected to be around 1 percent.
The economy also projects that job growth will continue to be driven by higher levels of education and economic growth.