The U.S. economy grew faster than expected in first quarter

By Trang Ánh Nam -


The first GDP numbers were released this morning, showing a 3.2% growth for the first quarter. It’s being reported that the growth in the first quarter of 2019 the growth of the economy “smashed” expectations – at least that’s how CNN is putting it in their chyron.
Indeed, that’s what everyone is suggesting:
Breaking: U.S. economy grew 3.2 percent in first quarter @SaraEisen reports
CNBC – The U.S. economy grew at a faster pace than expected in the first quarter and posted its best growth to start a year in six years.
First-quarter GDP expanded by 3.2% in the first quarter, the Bureau of Economic Analysis said. Economists polled by Dow Jones expected the U.S. economy increased by 2.5% in the first quarter. It was the first time since 2013 that first-quarter GDP topped 3%.
“The upside beat was helped by net trade (exports jumped while imports contracted sharply) and inventories which combined contributed almost 170 bps of the rise,” wrote Peter Boockvar, chief investment officer at Bleakley Advisory Group.
Friday’s data was the first look at how the economy fared during the longest government shutdown in history. The federal government ceased operations for 35 days between late December and Jan. 25 amid a standoff between the Trump administration and congressional leaders over funding for a wall along the U.S.-Mexico border.
I was reading Market Watch this morning and they suggested that state and local spending likely went up in the first quarter with the government shutdown, which may have helped spur some of this growth.
Even Piers Morgan was excited by the news:


Trump hasn’t tweeted about it yet, but I suspect he’s quite excited about the numbers. We should be hearing from him sooner than later.

Comments

Post a Comment

Popular posts from this blog

NBC Washington Correspondent Yamiche Alcindor and former U.S. Attorney Barbara McQuade join Andrea Mitchell to discuss key challenges facing the January 6 Committee ahead of their primetime hearings this week: getting a "distracted nation" to pay attention and understand what's at stake. “I think the biggest challenge for lawmakers here, as they talk about these sort of huge ideas of American democracy and sort of the experiment that we're all living in, benefiting from, possibly being brought to his knees, is whether or not they can make people care,” says Alcindor. “The American public has been groomed to expect high value quick entertainment,” says McQuade. "I think putting together a polished show can be very important."

By -
Image
 NBC News correspondent Yamiche Alcindor worried Democrats would have a difficult time making Americans "care" and pay attention to the January 6 hearings, amid high gas prices, inflation, and a baby formula shortage. Appearing in a MSNBC panel Monday, Alcindor told host Andrea Mitchell that the "biggest challenge" the January 6 House Select Committee faced was getting Americans to have the same level of concern for their investigation. "I think the biggest challenge for lawmakers here as they talk about these sort of huge ideas of American democracy and sort of the experiment that we’re all living and benefiting from possibly being brought to his knees is whether or not they can make people care, Andrea," she said. Link 1 Link 2 Link 3 September 18 Post By Học Để Thi | Breaking News, Latest News and Videos Tranganhnam.xyz
Read more

Cuomo, Lemon discuss Trump's comments on race

By Trang Ánh Nam -
Image
Chris Cuomo and Don Lemon discuss President Donald Trump's comments about race after the 2019 Oscars. Be nice if Spike Lee could read his notes, or better yet not have to use notes at all, when doing his racist hit on your President, who has done more for African Americans (Criminal Justice Reform, Lowest Unemployment numbers in History, Tax Cuts,etc.) than almost any other Pres! — Donald J. Trump (@realDonaldTrump) February 25, 2019 The left loves to hate on Trump, calling him a racist and what not. I know Trump can be juvenile sometimes – certainly – but the racist and hateful name-calling is just what it is, garbage.
Read more

AOC calls out Times Square billboard criticism for Amazon snub on Twitter and shows who exactly is funding the billboards.

By Trang Ánh Nam -
Image
Alexandria Ocasio-Cortez scrambled Sunday to explain why neighbors at her listed Bronx address never saw her there — and ended up claiming she recently relocatedto a larger place nearby. The day after The Post reported that residents said they had never seen her around — and she ducked questions about it after an appearance — her spokesman said the Democratic freshman congresswoman now lives with her boyfriend in a two-bedroom apartment “a block and a half away.’’ The pair relocated there earlier this month, he said. “She lives in the same neighborhood she’s lived in for years,” said the spokesman, Corbin Trent. “She is not living in the exact same condo.’’ The recent move still didn’t explain why residents at her previous digs — a one-bedroom Bronx condo owned by her mom — insisted they had never seen her there. U.S. reps and senators are required to have a residence in their home districts. Trent claimed that Ocasio-Cortez, 29, was at her new home Sunday afternoon, al
Read more