OK first quarter U.S. GDP looks to be storing up problems for the second quarter

OK first quarter U.S. GDP looks to be storing up problems for the second quarter

The first read on U.S. first quarter GDP growth wasn’t terrible—2.5% growth. That was a significant improvement from the 0.4% annual growth posted in the fourth quarter of 2012, although it did trail economist expectations of 2.8% to 3% growth. The problem is that if you dig down a level or two, the trends in the data point to a significant slowdown in the second quarter.