U.S. growth rate of 2.5% in 1st quarter disappoints

04/28/2013 | Reuters

The U.S. annual growth pace of 2.5% in the first quarter came in below forecasts and indicated that, despite a pickup from the fourth quarter, the economy is running into headwinds of government spending cuts and higher taxes. Analysts now see second-quarter growth of 1% and perhaps 2% growth for the year. The latest figures are expected to add impetus to those in the Federal Reserve who want to maintain government bond purchases.

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