U.S. economy seen growing 3%.

GDP data for Q1 is due out this morning, with economists expecting that the U.S. expanded by a 3% annual rate after almost coming to a halt at +0.4 percent in Q4. A major factor that is expected to show up in the data is farmers filling up silos following the drought last summer, which badly damaged their crop output. Without farming inventories, growth may well have been just 2%.