Economy Limps Along

The economy limped ahead at just a 0.7 percent in the first quarter. This is the slowest in four years. Some businesses clamped down on spending due to the uncertainties about the severity of the housing slump. The Commerce Department's new reading on gross domestic product for the January through Maarch period, was a slight upgrade from the 0.6 percent growth rate estimated a month ago. But it did fall short of economists' forecasts for a 0.8 percent pace and may turn out to be the weakest point for the economy this year.