The third and final reading of U.S. economic activity in the first quarter is a shocker: Gross domestic product contracted by 2.9 per cent, at an annualized pace, marking the worst setback since the financial crisis. That’s down from a previous estimate of a 1 per cent contraction.
Should we be worried? The stock market opened higher at the start of trading on Wednesday, suggesting that investors see the dip as a blip. Economists tend to agree -- and are looking forward to better growth ahead.