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In First Quarter, GDP Grew Less than Expected. Unexpectedly.

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In the first quarter of the year, the U.S. economy slowed from last quarter's 3 percent growth to 2.2 percent, according to the latest from the Department of Commerce:

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 2.2 percent in the first quarter of 2012 (that is, from the fourth quarter to the first quarter), according to the "advance" estimate released by the Bureau of Economic Analysis.  In the fourth quarter of 2011, real GDP increased 3.0...