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The Effect of Weather on First-Quarter GDP


Abstract: In a pattern similar to that of the previous year, the U.S. economy appeared to slow down this past winter. The Bureau of Economic Analysis currently estimates that gross domestic product (GDP) grew at 0.6% (at an annualized rate) in the first quarter of 2015. And as in the previous year, harsh winter weather has been cited by some observers as being responsible for the slowdown. However, there is substantial disagreement on the impact of weather on economic activity.

Keywords: economy; GDP;

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Provider: Federal Reserve Bank of Chicago

Part of Series: Chicago Fed Letter

Publication Date: 2015

Order Number: 341