The U.S. economy grew at a solid 3.2% annual rate in the first three months of the year, a far better outcome than expected, overcoming a host of headwinds including global weakness, rising trade tensions and a partial government shutdown.
It was the strongest first quarter growth rate since 2015. In recent years, GDP has been exceptionally weak in the first quarter. There had been fears growth could dip below 1% this year due to a variety of adverse factors such as the December stock market nosedive, rising weakness in key economies overseas, the U.S. trade war with China and a 35-day partial government shutdown that ended in January.
In the first quarter, inventory rebuilding added 0.7 percentage point to growth, while a falling trade deficit boosted growth by a full percentage point. Analysts think both of those factors will reverse in the current quarter. For the year, economists believe GDP will expand 2.4%, down from last year's 2.9% gain, as the boost from the 2017 tax cuts and increased government spending over the past two years start to fade.
Mark Zandi, chief economist at Moody's Analytics, said he expects growth for this year to be around 2.2%, close to the average for the past 10 years.
Maybe a better outcome than expected by the FakeNews MSM.. but is President Trump supporters knew that he was going to make this kind of impact.
Trump 2020 🎉🎉🎉🎉🎉🎉🎉
I’m sure libs will find negativity in this report
Thanks to soros obama & hillary
But Barry said 1% was the new normal!
Remember when BarackObama claimed the days of 3% growth was in the past? Good times. Obama Is Now The Only President In History To Never hit 3% GDP. Wow, that has got to hurt.
MAGAs, I'm sure your economic situation mirrors the vast profits unregulated corporations are pulling in. Oh, you're working more and not getting any further ahead as Trump bankrupts America? Thanks for the biggest deficit in American history Cult Leader Trump!
Dems want to take us backwards. No thanks
Hasn't affected my life one way or another. We move on the same as we have. Same income, same taxes, paying more in health insurance, but it goes up every year and we hardly use it. We pay the deductible, the insurance pays for little
So the rich are pouring their money back into the stock market to make the economy look good for your own selfish reasons. You pull out when you're not getting your way and put it back in to keep the status-quo. By hook or by crook? Just asking.
Thank You President Trump!!! Sorry liberals, America is becoming Great Again without you!!!
Thank you President Trump!
The FED is appointed by the president. Tells you all you need to know about the 3.2 GDP. Inflated.
Abracadabra!
Trump is nothing but a lucky prick who’s got away with bank frauds and sexual abuse. He’ll be impeached any second.
That Obama is a miracle worker and he’s not even the president anymore.
Great day for the American worker, bad day for liberals
I bet this was really difficult for you to report Winning MagicWand
Cue the groans from the liberals
👏🏻👏🏻👏🏻
We wanna be poor. C'mon ... everybody say it: 'we wanna be poor!'
Kills you leftists to report this doesn’t it?
Is this painful for you ABC to admit/report?
Thank you Mr. President realDonaldTrump Trump2020Landslide
Don't care. I'll take 0% and AN ACTUAL BORDER
Trump is Winning
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