The U.S. economy lost some steam during the first three months of the year. The Commerce Department said Friday that growth slowed to just 2.2 percent, down from 3 percent at the end of last year.
The good news was that the economy continued to grow during the first quarter of the year. But anyone who was waiting for growth to kick into a higher gear was disappointed once again. One reason for that was a slowdown in business investment — companies spent less on new equipment and software even though profits were surprisingly strong.