Economist Estimates Pessimistic About US Growth

May 1, 2014 Share Print 0

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.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.