Did the U.S. Economy Just Turn Negative?

A Hapag-Lloyd shipping container is unloaded at the Port of Los Angeles in San Pedro, Calif., on April 8 Photograph by Patrick T. Fallon/Bloomberg

Last week we learned that the U.S. economy grew a meager 0.1 percent during the first three months of the year. The news was met by a collective groan and some head-scratching over how a bout of bad weather could put the world’s largest economy on its back. As sad as it sounds, that estimate is actually starting to look overly optimistic.

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