No. read the BI article I just posted in this thread. The HC number estimation techniques were all botched up. This GDP number is worthless. All the other underlying data shows decent growth which we will see in the 2Q number.
There was a fairly pronounced downward spike in the business world that began in February and really didn’t start easing until May. Other than Obamacare and the weather, I have no explanation and neither does anyone else I know. It just died. Timing seemed oddly tied to that Malaysian plane thing, but I can’t imagine that actually having anything to do with it.
Quantify “decent growth.” Even assuming 3% growth every other quarter in 2014 means 2014 GDP will be 1.5% at best!