First quarter GDP comes in at 2.5 percent

(April 26, 2013) -- The first estimate of first quarter annualized GDP growth of 2.5 percent represents a marked improvement from the 0.4 percent gain in the fourth quarter of 2013, though it compared to expectations of a stronger 3.0 percent increase, RBC Economics reported today. The main downward surprise was another sizable drop in government spending of 4.1 percent.