Q1 GDP estimates slashed post-trade data (by Steve Goldstein)
WASHINGTON (MarketWatch) -- The trade data for February has led several economists to mark down their already-battered estimates for first-quarter growth. Morgan Stanley slashed their estimate to 1.5% from 1.9% after what they called "a very weak report." RBS Securities cut their estimates to 1.7% from 2%, and adding that while some of the cooling reflects special factors, "the combination of slowing growth and rising prices puts the Fed in an increasingly uncomfortable position." RDQ Economics, which is waiting until Wednesday's retail sales report to adjust their numbers, said "the quarter is looking very soft from the expenditure side."