This winter's brutal weather took a toll on sales growth for U.S. businesses, according to a survey of economists released Monday. But the group expects business to pick up again now that the worst of the harsh weather is over, according to CNBC.
The latest quarterly survey by the National Association for Business Economics found sales are growing, but the number of firms reporting high profit margins fell slightly.
Forecasters expect the harsh winter slowed the growth of gross domestic product in the first quarter from a 2.6 percent growth rate in the last three months of 2013. But the economy is expected to snap back in the second quarter of this year as the impact of the harsh winter fades. Some forecasters see second-quarter GDP growth running as high as 3.6 percent on an annual basis.
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