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The U.S. economy hit the recession exit ramp nearly three years ago, but it's been lost on the back roads somewhere near Recoveryville ever since.

Growth rates have been modest at best compared with the 4-plus percent growth in the years well before the U.S. began slouching toward its worst post-World War II recession.

The U.S. economy grew at a 2.2 percent annual rate in the first quarter of the year, according to the Bureau of Economic Analysis.

That's down from the 3 percent pace in fourth-quarter 2011, but is still better than the 1.7 percent growth for all of last year.

The first-quarter figure will be revised twice, in each of the next two months.

We'll have more about the report shortly.

Update at 8:47 a.m. ET. Behind The Numbers:

The news overnight that the U.S. and Japan have reached an agreement to move about 9,000 U.S. Marines off the island of Okinawa means that slightly more than half of the Marines who have been stationed there will be heading to Guam and other places in the Pacific.

Michael Jordan, one of the greatest players in basketball history, has one more record. It's not likely a record he wanted. He's the owner of the NBA's worst team ever. The Charlotte Bobcats have seven wins and 59 losses.

William Lawlis Pace died in California this week. He holds the record for the person alive the longest with a bullet in his head. Back in 1917, his brother accidentally shot him with a rifle. Doctors left the bullet in place, feeling it would do more damage to remove it.

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with impressive earnings for Amazon.

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INSKEEP: Amazon released its first-quarter earnings for 2012, which far exceeded Wall Street expectations. As NPR's Steve Henn reports, that sent Amazon's stock price soaring.