Despite the nicer spring weather, the US economy is getting off to a slow start in the second quarter of this year.

As of its latest reading, the Federal Reserve Bank of Atlanta says the nation’s economy, as measure by the gross domestic product (GDP) is expanding at only a 1.2% annual pace.

That’s much lower than the 3.2% annual growth recorded in the first three months of 2019. That’s mostly because residential expenditures are lagging.

If you want to look on the bright side, the Atlanta Fed was very pessimistic in the first quarter as well and that period ended up being a blockbuster.