You can’t blame it on the weather this time—for the third consecutive year the US economy started off on the wrong foot, as GDP achieved only a 0.5% annual gain.
Instead of a harsh winter that hurt productivity, we experienced one of the mildest winters on the books. This helped builders fit more working days into the calendar, but that’s a double-edged sword—there’s little to bounce back from now and we can’t expect the spring surge that normally accompanies good weather, Bloomberg reports.
Growth estimates for this quarter are only 1.4% after one of the US economy’s worst showings in years. That’s far away from the Q2 surges of 4.6% and 3.9% in 2014 and 2015, respectively, making us wonder how long this economic winter will last. [Bloomberg]
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