An OK but not great economy

That's the general consensus of private economists surveyed by the WSJ. First quarter's very sluggish 1.3 percent growth - weakest in four years - should be the worst of what's been a low-grade slowdown over the past year. But the improvement will be modest, with GDP growth running 2.2 percent in the second quarter and 2.6 percent in the second half of the year. Housing might improve a little, consumer spending might go down a little, and inflation continues to be of concern, especially with those higher gas prices. Another interesting nugget from the survey: More than three-quarters of the economists said the nation's widening income gap is a worrisome development, though most said that the government shouldn't get involved. Stocks retreat: There are still a few minutes left before the market closes, but this won't be a great day. The Dow is down 132 points and the S&P 500 is below that important 1500 level.