Economy in U.S. Stalls as Business Investment, Exports Drop

From bloomberg.com

Economic growth in the U.S. stalled in the first quarter as harsh winter weather chilled business investment, exports dropped and inventories climbed at a slower pace. Consumer spending rose more than forecast, propelled by the biggest gain in services in 14 years. Gross domestic product grew at a 0.1 percent annualized rate from January through March, compared with a 2.6 percent gain in the prior quarter, figures from the Commerce Department showed today in Washington. The median forecast of 83 economists surveyed by Bloomberg called for a 1.2 percent increase. Household purchases rose at a 3 percent pace, spurred ... (full story)