America's Disappointing Q1: A Sign of Things to Come?

AN OUTBREAK of disappointing American economic data is raising fears of a return of the "spring swoon". For a fourth year running, the American economy seemed to sprint out of the gates in January and February only to lose pace by April. But according to figures released this morning by the Bureau of Economic Analysis, even the early year clip might have been more trot than gallop. The American economy grew at just a 2.5% annual pace in the first quarter. While that is up from a 0.4% performance in the fourth quarter of 2012, it came in below expectations for growth at or just above 3%.