UPDATE: Home-price growth races to 8-month high
Seasonal factors and weather have confounded economists who favor the quarter-over-quarter growth methodology.
Next week's data will provide some important clues.
Sluggish consumption growth and falling net exports could be big headwinds on GDP this quarter.
In years past, job growth has looked remarkably strong in late winter and early spring, only to fall apart over the summer months.
The market may cheer more free money for all, until the reality of Japan's issues gets a second look.
The manufacturing sector looked particularly strong this week, while housing data was mixed.
Hopefully, their boost in savings will start to burn a hole in the economy's pocket.
Maybe investors have realized that the best growth prospects remain in the United States
This week's GDP report now makes my original full-year 2.0%-2.5% GDP forecast a real possibility, writes Morningstar's Bob Johnson.