Analysis: Despite bullish consensus, GDP growth estimates falter

Another round of tax stimulus is in place and consumers have paid down enough debt to start spending again, but the U.S. economy is oddly lacking in vigor, according to The Economist. New-home sales have fallen to an all-time low, and Macroeconomic Advisers scaled back its tracking estimate for first-quarter gross domestic product growth to an annualized 2.5%. The U.K. Office of Budget Responsibility lowered its growth forecast from November's 2.1% to 1.7%. "A helpful reminder that on both sides of the Atlantic, this is a post-crisis recovery," the magazine noted. "Do not expect miracles."

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Economist (free content), The · Chicago Tribune (tiered subscription model)

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