From the Wall Street Journal: "America’s gross domestic product, the broadest sum of goods and services produced across the economy, shrank at a 0.7% seasonally adjusted annual rate in the first quarter, the Commerce Department said Friday. Here’s what economists had to say:"
"'[The] U.S. economy contracts in [the first quarter], but momentum has picked up and will continue to do so in coming quarters. Importantly, consumer spending, business equipment spending and residential investment remain resilient and should accelerate in [the second quarter]. International crosscurrents and reduced mining activity will continue to weigh on U.S. activity, but we expect these constraints will gradually dissipate. Oxford Economics has revised its 2015 growth estimate to 2.1%' –Gregory Daco, head of U.S. macroeconomics at Oxford Economics"