GDP Rise of Only 0.2% in Q1, A Sluggish Start to 2015

Washington, DC, April 29, 2015—Gross domestic product (GDP) rose at a 0.2% annualized rate after advancing 2.2% the prior quarter, the Commerce Department reports.

However, consumer spending rose 1.9%, a little better than projected, according to Bloomberg.

The median forecast of 86 economists surveyed by Bloomberg called for a 1% gain in the GDP.

While the restraints of harsh winter weather and delays at West Coast ports were temporary, the effects of the drop in fuel prices and stronger currency will probably prove longer-lasting.