Pinterest Inc. signage is displayed outside of the New York Stock Exchange during the company's initial public offering on April 18, 2019. The company raised about $1.4 billion in an above-range initial public offering. . By Heather Long Heather Long Economics correspondent Email Bio Follow April 26 at 8:40 AM The U.S. economy expanded at a strong 3.2 percent annualized rate from January through March, the U.S.
Many economists initially predicted anemic growth at the start of 2019 as the partial government shutdown and a rash of extremely cold weather caused many businesses and consumers to hit the pause button on big purchases, but forecasters raised their estimates to 2.3 percent as it became clear companies were re-stocking their shelves. Growth ended up coming in almost a full percentage point higher than expected, the best start to the year since 2015.
President Trump has vowed he can get the U.S. economy growing at an annual pace of 3 percent — or better. By one growth calculation he achieved that goal last year after the tax cuts and additional government spending spurred more consumer and business spending, but most experts see growth coming in closer to 2 percent this year, more in line with the Obama years.
After a big buying spree in the winter, companies are unlikely to keep expanding their inventory this spring, meaning second quarter growth could take a hit. The unusual jump in U.S. exports is also likely to be hard to sustain. If the trade deficit widens in the second quarter, that would also be a drag on growth.
Winning
I can hear the keyboard breaking at WaPo...lol
IMPEACH YOU FOOLS IMPEACH
Democrats are saying 'this is bad as it is at the cost of deficit.' They are also saying 'Thanks Obama'.
Ten solid years of economic growth. Thanks Obama
Trump is the greatest , glad he brought his wand .
Why are so many so poor?
If the economy is so strong why are running a deficit of $1.3 trillion, and why have we added $2 trillion to the debt in just two years? And why is Amazon paying zero in taxes on a profit of $11B ? And why is the regime proposing massive cuts to Medicare and Medicaid?
ROFLMAO.... I'm still getting the same income I got 15 years ago. So my buying potential has gone DOWN. Cost of living going up. I'm stripping everything I don't need to live on from my life. Shelter, food and medications are pretty much it now. Screw trump.
How can that be?
Yea, but....
Apparently that's terrible news for Democrats. WalkAwayFromDemocrats
Companies expanding their inventories hoping consumers will buy things with their tax refund they aren't going to get is going to be a big mistake. Next quarter will see a big hit as companies pause waiting for those purchases to come, that aren't coming.
I’m sure this hurt the WP to post. I can see all the whiny bitch, Trump haters are happy. Libs can’t admit they’ve been manipulated for over 2 years, by the false and unfounded accusations of the Democrat ran media and dirty politicians.
Trump is the greatest President in history
Ha. No chance is that accurate. Remember who leads the agency behind the figures, And remember who gives him direction.
Do you mean the expectations from fraudulent economists whispering recession? 🤣 trumpeconomy taxcutswork
Deficit also grew significantly. But let's not talk about that in the caviar eating, Dom Perignon sipping circles of Wall Street.
You mean Trumps Economy right? Trump2020 MAGA2020
That’s great. Now what about our growing deficits that are also surpassing expectations
Hahahaha 🥴
The economy exceeds expectations every single time.
Trump just keeps winning doesn't he. Come on cry babies. Let it out.
🤔 I wonder why
Its NOT an annual rate if you're only counting 3 of the 12 months, WTF is wrong with you people...
Given that Trump has no relationship with the truth, why do we take these numbers at face value? Bet number gets quietly revised downward--and by a bunch--in the coming weeks. Wish there was a bipartisan panel that oversaw these numbers.
It's an outrage. Doesn't the country know we have the worst president in the history of presidents?
Where are the raises ?!!!