U.S. economy stalls in first quarter

Bloomberg Business reports data released Wednesday by the Commerce Department indicates the U.S. gross domestic product rose only 0.2 percent in the first quarter, down from 2.2 in the previous quarter. Economists had forecast a 1.1 percent gain, the report states.
 
Affecting the lower GDP was continuing bad weather in the east, delays in shipping goods from West Coast ports, a stronger dollar and lower oil prices, the report states.
 
Economists say they are cautiously optimistic the economy will strengthen in the second quarter.

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