Forecasters have downgraded modestly their outlook for growth and upgraded their job market outlook, according to the Survey of Professional Forecasters, released Friday.

In a country where precision is expected in all aspects of life–trains arrive on time, shopkeepers hand you correct change–the government suffered quite an embarrassment admitting that it had left errors in one of, if not the most, important economic data for nearly three months.

New data from Moody's Analytics Chief Economist Mark Zandi indicates fiscal headwinds will intensify this summer but growth will accelerate into next year as fiscal pressures moderate.

The chances that the U.S. will achieve genuine growth right now are 50-50, said Mohammad El-Erian, chief executive of Pimco, a global investment management firm based in Newport Beach, Calif.

The nation’s personal-saving rate fell to 2.6% in the first quarter, down from 4.7% in the final three months of 2012.

Steve Landefeld, who has directed the Bureau of Economic Analysis since 1995, presides over a vast operation that strives not to be complex.

A walk through gross domestic product, in charts.

If anyone was partying last quarter, it was consumers. The festivities came at a price, however. Higher taxes and costlier energy caused a large 5.3% drop in disposable income.

For centuries, philosophers have debated the value of art. Now, the U.S. government is going to take its own stab.

The world’s largest economy is about to look a hint bigger -- but that doesn’t mean the pace of growth is picking up.