Obamanomics…

Via Forbes:

The U.S. economy grew in the first quarter — but very, very, very slowly. Frigid winter weather dampened forward progress. Improved economic data out since the quarter ended, however, caused many people to minimize the weight they were placing on the figure even before it was released Wednesday morning.

The Bureau of Economic Analysis’ advance estimate of first quarter 2014 real gross domestic product shows output produced in the U.S. grew at a glacial 0.1% rate relative to fourth quarter 2013, when real GDP increased 2.6%. Economists were anticipating growth around 1.1%.

“Real GDP growth was quite a bit weaker than already feeble expectations,” wrote Guy Berger, U.S. economist at RBS, in a note on the results. Berger noted that most of the weakness came from trade and inventories which subtracted 80 basis points and 60 basis points from overall GDP respectively.