Posted on 05/30/2019 6:27:49 AM PDT by Olog-hai
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.
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%. […]
Last year, the economy grew 2.9%, the best showing since a similar gain in 2015, but analysts believe much of that increase stemmed from the boost provided by the $1.5 trillion tax cut package passed in 2017, support they are forecasting will fade this year. …
(Excerpt) Read more at apnews.com ...
Are the folks at Associated Press on Suicide Watch?
Haha, Big Radio was gleefully telling me a few days ago that Q1 would be reduced downward from 3.2 to 3.0.
And that was against a massive headwind of Republican whores and Democrat traitors. Trump did this all alone. Freakin’ imagine if they were in there rowing too.
“When did Obama have anything like that kind of growth, eh?”
FraudCo likes to tell us that NOW he has.
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.
...
All the more reason that the Federal Reserve should lower interest rates to market levels.
lol,no kidding
The Dems will claim it’s Obama’s Economy, Trump just ‘inherited it’................
This author is a buffoon.
"likely fade". The Dem media would never have used that phrase when obummer was Prez. Talking the economy down, what they tried to do to W's election...
Hillary’s Wall Street backers are willing to sacrifice a few trillion dollars of GDP to discredit Pres. Trump and defeat him in 2020.
The article is full of negative qualifiers. It’s not really good news unless they can attribute it to Obama. LMAO
but much of that gain was based on temporary factors that will likely fade, leaving growth much slower in the current quarter.
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Nattering Nabobs of Negativism.
This author is a buffoon.
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Not really. He’s a propagandist like most reporters are these days.
Realistically, even as I cheer the good Q1 GDP news, I do not expect Q2 to have the same growth rate. This trade war with China will definitely be a negative factor.
The trade war China’s been fighting for the past few decades? We got to this level of growth by fighting back, finally.
Talking down the economy. The post Depression II (2008-2017) prosperity is just beginning!!!
Actually if our esteemed “Captains of Industry” had not stupidly off shored manufacturing to such a massive extent GDP would be 6%+ now. It’s hard to invest in the US economy, new equipment and facilities) when ALL THE FACTORIES ARE IN FOREIGN COUNTRIES.
Agree with your sentiment
Depending on the story you read, this is a win...or a loss.
This goes to show you that journalism is all about context and time frame.
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