This will be the first quarter in quite some time that GDP will be a negative. Basic economics dictates that an economy will be considered in a contraction/recession phase should 2 consecutive quarters of GDP data be negative. Keep you eye on that data.
Don't be silly... The 2nd quarter will be very strong precisely because the 1st was so weak. The average for the 1st half of 2014 will be arnd 2.5% YoY.