BROWN: There's some troubling signs the U.S. economy is hitting the pause button. CNN's chief business correspondent, Christine Romans, has more.</s>CHRISTINE ROMANS, CNN CHIEF BUSINESS CORRESPONDENT: Hi, Pamela. Economists are sharpening their pencils and cutting their growth forecast for the first quarter. Despite strong jobs growth, a solid housing market and very low commodity prices, the Atlanta Federal Reserve forecast growth of only 0.4 percent in the first three months of the year, dramatically lower than the 2.5 percent it predicted in mid-February. Bank of America sees 0.6 percent. Wells Fargo slicing its economic growth forecast to a meager 0.1 percent. That would essentially signal the economy is not growing. Well, why? Falling car sales in March, despite the fact auto sales hit a record last year; lower equipment purchases by businesses, potentially a sign of slowing demand; and a weaker than expected reading on consumer spending. Economic growth has softened in the first quarter of the last few years, so not really a surprise there. But mostly it rebounds into the summer. For the entire year, the Federal Reserve sees 2.2 percent economic growth. Despite this first quarter stall and what you're hearing on the campaign trail about the economy, four Fed chiefs agree the U.S. is not on course for a major recession.
Signs U.S. Economy Not Growing.