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Analysts Cut Their Q2 GDP Forecasts Even More After Today's Ugly Report
More bad news clouds the outlook for Fed policy makers
Shoppers stroll past the window displays in Manhattan's Upper East Side in New York, U.S.
Photographer: Craig Warga/BloombergThis article is for subscribers only.
The U.S. economy had a disappointing start to 2015, data released Wednesday showed. Now, a solid second quarter is looking less and less likely as well, clouding the outlook for Federal Reserve policy makers hoping to raise interest rates later this year.
The U.S. Bureau of Economic Analysis reported that gross domestic product expanded at just a 0.2 percent seasonally-adjusted annualized rate in the first quarter. It was below the 1 percent median forecast of economists surveyed by Bloomberg.