The United States economy enjoyed a growth spurt in the first three months of the year as it expanded at an annual rate of 5.3%, its best showing in 2-1/2 years.

The U.S. Commerce Department reported today that the first-quarter growth figure was more than triple the 1.7% annual rate seen in the final three months of 2005.

Although it was the biggest expansion since third quarter of 2003, economic growth for the January-March period was actually below the 5.7 to 5.8% range that economists had been forecasting.

Healthy consumer spending, built-up in inventories, a rise in exports and rebuilding activity in the wake of the last year’s hurricanes were all cited for the rebound in economic activity.

Economists are expecting second-quarter growth will ease to between three and 3.5%.