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.
