U.S. First-Quarter Growth Looking Better But Rest of Year Is Not

• Economists expect U.S. first-quarter growth to decelerate less than previously thought even as they cut forecasts for the rest of the year, projecting a second-quarter rebound will fade as the effects of tax cuts wane.
• The median estimate for growth in the first three months of the year increased to 1.6% from 1.5 percent seen last month, according to an April 5-10 Bloomberg News survey.
• At the same time, forecasts for the second quarter held at 2.6% while those for the third edged down to 2.2% and were also lower for the fourth, at 2%.

(Source: Bloomberg)