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.