Optimism about the 2014 economy is fading - Jun. 16, 2014:
"A Census report released Friday shows health care spending was far weaker than expected in the first quarter.
As a result, economists are now forecasting the economy contracted at an annual rate of 1.5% to 2.4% in the first three months of the year, even weaker than the 1% contraction already reported by the Commerce Department.
(The Commerce Department will revise its GDP numbers next week).
If that's the case, achieving 3% growth for 2014 overall will be next to impossible.
The economy would have to grow at around a 4.6% annual pace for the next three quarters in a row.
The United States has not had a growth spurt that strong since late 2003 to early 2004."
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