Economic & Market Quarterly

The Federal Reserve used the term “transitory factors” – mostly severe winter weather – to characterize the weakness in the first quarter. Real GDP growth came in at a negative 0.7% in the first quarter. The U.S. was also dealing with a west coast ports’ strike that was settled in mid-February, which affected the shipment of goods, primarily to and from Asia.

The PDF version of the Economic & Market Quarterly is available online.