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WASHINGTON (AP) — The government is set to release revised figures on the strength of the economy in the first three months, and analysts say they think the gross domestic product actually shrank during that period.
That's the gist of a survey of economists by the data firm FactSet. The analysts interviewed predicted that the government will say later today that the GDP contracted at an annual rate of 0.8 percent in the first quarter. If the numbers confirm that, it would mean the economy was significantly weaker from January through March than the first GDP estimate of a 0.2 percent annual growth rate.
Though falling GDP can be a sign of a recession, economists see little cause for concern. In fact, they are forecasting solid GDP growth the rest of the year. They expect solid job gains will propel the economy and stimulate growth.
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