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According to 56 economists polled by The Wall Street Journal, economic growth should accelerate later this year, despite disappointing first-quarter data. Respondents cited bad weather, the earthquake in Japan, and rising oil prices for slower-than-expected growth in the first quarter but didn’t expect the trend to continue. They forecast continued improvement in the labor market and expect economic expansion to strengthen through the end of this year. James F. Smith, of Parsec Financial Management, said none of the problems of the first quarter would derail the economy’s steady recovery. More here.
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