US Economy Grew At Solid 3.1% Rate In Q1,But ...

The new GDP estimate was down slightly from an initial 3.2% estimate. For the current April-June quarter economists believe GDP growth will slow to less than 2% and for the year they see GDP rising a modest 2.3%. That forecast is far below the expectations of the Trump administration, which is projecting annual GDP gains averaging 3% over the next decade, gains that would be well above the 2.2% average GDP growth seen during the current 10-year expansion, which will become the longest in U.S. history in July. The U.S. economy grew at a solid 3.1% rate in the first three months of the year, but much of that gain was based on temporary factors that will likely fade, leaving growth much slower in the current quarter. The Commerce Department said Thursday that the first quarter advance in the gross domestic product, the economy’s total output of goods and services, rose sharply from a 2.2% increase in the fourth quarter as the economy overcame a partial government shutdown to weakness in overseas economies.
 

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that's what they said last time..

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(edited)

1 minute ago, rainman said:

that's what they said last time..

😂 They said the exact same thing in Q4 about Q1...

Edited by francoba

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Predictions show considerable slow down as well.  We have unclear situation with Trade war(it's a still, let's say, 50/50 chances to total escalation).  Meanwhile, the increased tariffs appear to be creating havoc to this economy. China halted purchase of soy beans this morning. 

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".. solid 3.1%"  when numbers aren't enough  :)

 

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Here in Australia, GDP grew at 4% in the first half of 2018, only to slump to 1% in second half. We are close to recession but iron ore prices booming and tax cuts on the way so we should scrape through. I see something similar occurring in US. A sharp slowdown in Q2 and Q3, followed by a rapid rebound in Q4 due to completion of Permian pipelines and a rate cut from the Fed. Best of luck!

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