The latest tally of 1st Quarter GDP has been revised upward. So much for the Trump recession.
By Steve Moore
WASHINGTON, D.C. (Texas Insider Report) — After a brutal couple of months at the start of the year (due to the Trump tariff turmoil,) the American economy is humming right now. The Atlanta Fed's latest estimate of the GDP growth over the first two months of the 2nd quarter is now a healthy 4.6%.
The latest tally of the first-quarter GDP has been revised upward to -0.2.
So much for the Trump "recession."Investment has flipped from negative to positive and consumers are spending again. Imports have fallen as well.
Inflation is running just a tad over the Fed's 2% target. Consumer confidence is up to a four year high.
It’s true that this is just a couple months of data, and things could turn south with more tariff wars. But it’s noteworthy that the economic "experts" and the media were all doom and gloom six weeks ago.
Note that the growth this quarter has surpassed the expectations of all the Blue-Chip Forecasts.
Oh, ye of little faith.
Stephen Moore – a former Wall Street Journal Editorial Page writer and Chief Economist for The Texas Insider – is a Senior Fellow at both FreedomWorks and the Heritage Foundation, who along with Steve Forbes & Art Laffer is Co-Founder of the Committee to Unleash Prosperity. Using compelling charts, videos, and maybe even a little humor, Moore and the Committee's free Daily Newsletter provides you with information not readily available anywhere else – short and timely insider updates on the economy, the D.C. political landscape, and numerous other issues that help you stay informed and allow you to be the smartest person in the room.
