Economists now believe that the U.S. economy probably contracted slightly in the first quarter, according to a Moody's/CNBC survey.
The median of 10 economists' estimates suggests the economy shrank 0.3 percent in the first quarter, according to the CNBC Rapid Update survey. The results include the full impact of the weak trade data that came out earlier Tuesday.
The trade deficit surged in March to its highest level since late 2008, coming in much worse than the government assumed when it first posted Q1 GDP data.
The median of 10 economists' estimates suggests the economy shrank 0.3 percent in the first quarter, according to the CNBC Rapid Update survey. The results include the full impact of the weak trade data that came out earlier Tuesday.
The trade deficit surged in March to its highest level since late 2008, coming in much worse than the government assumed when it first posted Q1 GDP data.
