Most economists had forecasted

Markets in Asia rallied in what could be interpreted as relief after North Korea's embarrassing rocket launch failure.
However, China announced GDP growth slowed to 8.1 percent in the first quarter, a deceleration that was sharper than what most economists had forecasted.
England's FTSE 100 is down 0.4%.
France's CAC 40 is down 0.9%.
Germany's DAX is down 0.6%.
Spain's IBEX 35 is up 1.9%.
Italy's FTSE MIB is down 1.2%.
U.S. markets are looking at a lower open with Dow futures currently down 48 points.  Later this morning, we get earnings announcements from Wells Fargo and JP Morgan.