LOS ANGELES, April 2, 2014 /PRNewswire/ -- In its first quarterly report of 2014, the UCLA Anderson Forecast asserts that the harsh winter weather that ravaged much of the country caused slower than expected national growth in the first quarter of the year. However, the economy should rebound in the spring. Weather-impacted activities, such as factory production, automobile sales and construction, are expected to make up for time lost over the winter, leading to GDP growth in the 3 percent range. That rate is forecasted to persist through 2016, boosted by increased housing and business investments, as well as gains in consumer spending.
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SOURCE UCLA Anderson School of Management