The economy likely contracted during the first quarter, according to a CNBC and Moody’s Analytics poll of economists. This marks a reversal from earlier estimates for GDP growth.
The six economists polled expect U.S. gross domestic product growth to have shrunk by 0.1 percent during the quarter. The estimates range from a drop of 0.4 percent to a 0.1 percent rise.
The report follows a Commerce Department report Wednesday showing the U.S. economy barely grew in the first quarter as exports tumbled amid unusually harsh winter weather.
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