Associated Press, Bloomberg Businessweek The U.S. economy probably expanded more slowly this winter than first estimated. But economists expect...
Associated Press, Bloomberg Businessweek The U.S. economy probably expanded more slowly this winter than first estimated. But economists expect growth picked up in spring, helped by more hiring and cheaper gas. Economists forecast that the economy grew at an annual rate of 1.9% in the January-March quarter, according to a survey by FactSet. That's slower than the government's initial estimate of 2.2% reported last month. The Commerce Department will release the second of three estimates for first-quarter growth at 8:30 a.m. Eastern time Thursday. The gross domestic product, or GDP, is the output of all goods and services from refrigerators to haircuts. Economists expect a downward revision after seeing disappointing March data that wasn't included in the first estimate. One report showed the biggest increase in the U.S. trade deficit in 10 months. Another showed U.S. companies restocked more slowly. Read More
