New York
THE big economic bounce some specialists have confidently predicted for later in the year may turn out to be only a small bump.
It is not that the economy is weakening, or that a recession is in the offing. Rather it appears as if the pace of growth in 2017 will not be much faster than it was last year, or the year before that.
So even as the Commerce Department on Friday offered an upward revision of the first-quarter growth rate - to 1.2 per cent from the 0.7 per cent cited last month - other forecasters were lowering their sights for the current quarter.
The expectations have dipped amid fears of lacklustre consumer spending and orders for durable goods, and new data on Thursday that...
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