Strong Growth for U.S. Economy in the First Quarter? Economists Say Don't County on It
Wednesday, April 29th, 2015 -- 8:19 AM
(AP) -It was likely a winter of discontent for the U.S. economy.The Commerce Department today will release its first estimate of growth in the January-March period. All signs point to a disappointing performance during the quarter, when the country was hit with a basket of setbacks: severe snowstorms in the East, a port dispute on the West Coast and a stronger dollar that hurt American manufacturers.
Economists were forecasting growth of just 1 percent for the gross domestic product, according to a survey by data firm FactSet. That would be down from 2.2 percent in the fourth quarter and the weakest showing in a year.
They are hopeful, however, that a rebound is in store this spring and summer. Economists predict that solid employment gains and rising consumer spending will help spur stronger growth. In fact, many economists believe the economy will expand enough this year to give the country the strongest growth in a decade.
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