WASHINGTON — The U.S. economy likely slowed significantly in the first three months of the year, though economists foresee a sharp rebound in the current April-June quarter on the strength of solid job growth, higher consumer confidence and stock-market records.

The government today will release its first of three estimates of growth for the January-March quarter as measured by the gross domestic product. The expectation is that annualized GDP growth will amount to 1 percent — less than half the 2.1 percent gain in the previous quarter.

A variety of factors are cited for the expected slowdown, ranging from warmer-than-usual weather that held back utility production to an IRS delay in distributing tax refunds, which possibly dampened consumer spending at the start of 2017.

There is also the problem the government faces this time of year in accurately applying seasonal adjustments to its calculations of growth. This occurs, for example, in taking account of housing construction, which typically slows in the January-March quarter depending on how cold the winter is.

The Bureau of Economic Analysis, which prepares the GDP report, has a three-year program aimed at addressing this problem. Analysts say that lingering issues in this area may artificially hold down Friday’s initial GDP estimate for the first quarter.

At the same time, most forecasters predict a sizable snapback in growth. Economists at Macroeconomic Advisers expect that a lackluster performance of around 0.5 percent annual growth in the first quarter will be followed by a 3.6 percent gain in the second quarter. Other analysts, while not quite that optimistic, foresee annual growth above 3 percent.