April 30, 2014 10:30 AM, EDT

First-Quarter GDP Edges Up 0.1%

Tim Boyle/Bloomberg News

The U.S. gross domestic product grew at a 0.1% annual rate in the first quarter, the Commerce Department reported April 30.

The reading, lower than the fourth-quarter’s 2.6% gain in the prior quarter, pulled back due to bad weather in the first three months of the year.

Economists’ median projection was for a 1.2% increase, Bloomberg News reported.

The economy expanded at a 1.9% rate last year following a 2.8% increase in 2012.