GDP Growth Disappoints Comes In At 2.2%

This morning saw the first announcement of GDP figures of 2012 by the Bureau of Economic Analysis at the Department of Commerce. The report showed growth in the first three months of the year of 2.2%. The figures disappointed many who had been hoping, and forecasting, a more positive report.

Analysts who had been forecasting the numbers were looking for around 2.5%. The figures compare favorably with last year, when the economy grew just 0.36% in the first quarter. Despite their large increase year on year the numbers still come in below the fourth quarter 3% growth...