MarketWatch reporter Jeffry Bartash tries to divine just where the economy is heading, as many early indicators proved misleading, and the first quarter GDP results came in far below economist expectations, at just 0.2%.

And now, is it deja vu all over again? An uneven batch of economic reports halfway through the second quarter has left economists uncertain of second quarter GDP growth. Many have slashed original predictions of a 4% second quarter down to 3.2%, or even below 3%.

Sales of new homes nationwide, meanwhile, might creep higher in April, but closings are still historically weak. And a pair of surveys on how consumers fell about the economy probably won’t show much change. Americans are happier, but they are far from satisfied.

It's a comprehensive read on an elusive subject, you should check it out: 

Read more >