Not So Bad: US Economy Grew At Solid 3.1% Rate In First Quarter

The U.S. economy grew at a healthy 3.1% rate in the first three months of this year, but signs are mounting that growth has slowed sharply in the current quarter amid slower global growth and a confidence-shaking trade battle between the United States and China. The Commerce Department reports that the gain in the gross domestic product, the broadest measure of economic health, was unchanged from a month ago. However, the components of growth shifted slightly with stronger business investment and consumer spending slowing more than previously estimated. Economists believe growth has slowed sharply in the current April-June quarter to around 2%. They expect similar meager gains for the rest of the year, a forecast that runs counter to the Trump administration’s expectations for strong growth above 3%.
 

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Solid and healthy,but......

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It likely will as we head into an election year and there is uncertainty....

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People forget one thing: Economists said that the trade wars have a long-term impact rather than short ones, so the US's slowdown will be in a lag of at lease 6 months, depending on the intensified of the trade wars ....

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1 minute ago, Pavel said:

People forget one thing: Economists said that the trade wars have a long-term impact rather than short ones, so the US's slowdown will be in a lag of at lease 6 months, depending on the intensified of the trade wars ....

Most economists predicted this from before,  so we’ll see. The fed talking about lowering interest rates isn’t a good sign. Corporate debt bubble getting bigger.

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5 minutes ago, damirUSBiH said:

Most economists predicted this from before,  so we’ll see. The fed talking about lowering interest rates isn’t a good sign. Corporate debt bubble getting bigger.

Are these the same economist who told us a 3.0 gdp was not sustainable? Do you mean those economist? They predict something? They always commenting after the facts, never before...

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14 hours ago, rainman said:

The U.S. economy grew at a healthy 3.1% rate in the first three months of this year, but signs are mounting that growth has slowed sharply in the current quarter amid slower global growth and a confidence-shaking trade battle between the United States and China. The Commerce Department reports that the gain in the gross domestic product, the broadest measure of economic health, was unchanged from a month ago. However, the components of growth shifted slightly with stronger business investment and consumer spending slowing more than previously estimated. Economists believe growth has slowed sharply in the current April-June quarter to around 2%. They expect similar meager gains for the rest of the year, a forecast that runs counter to the Trump administration’s expectations for strong growth above 3%.
 

If Obama were still President they would be saying how great and wonderful the economy is. 

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