Triple whammy slows US economic growth

The US economy skidded to a near halt in the first three months of the year, battered by a triple whammy of harsh weather, plunging exports and sharp cutbacks in oil and gas drilling.

The overall economy grew at a barely discernible annual rate of 0.2% in the January-March quarter, the commerce department reported. That is the poorest showing in a year and down from 2.2% growth in the fourth quarter.