There are issues now and potentially in the future.
BREAKING: US #economy grew at a 3.2% (annualized) pace in Q1 2019, best since 2015 and smashing estimates of 2.3%. Higher inventories and a smaller trade deficit helped push the number up, factors that aren't likely to last.
— Heather Long (@byHeatherLong) April 26, 2019
Q1 18: 2.2%
Q1 17: 1.8%
Q1 16: 1.5%
Q1 15: 3.3%
Everyone seems dazzled by the headline number, but the GDP report is not so amazing. Big drop in personal consumption. Big drop in imports, which boosts GDP, also indicates weakening demand. Big boost from inventory accumulation.
— Ryan Avent (@ryanavent) April 26, 2019
Strip out those effects, and growth was much weaker. In fact, it was the weakest quarter since *2013.* pic.twitter.com/2TuShsUhH4
— Ben Casselman (@bencasselman) April 26, 2019
Trump: "Our economy is now the hottest anywhere on the planet earth."
— Heather Long (@byHeatherLong) April 26, 2019
Reality:
US economy grew at 3.2% annualized pace in Q1.
China: 6.4%
India: ~7%#economy
Trump likes 3.2% growth, but he's still bashing Fed:
— Heather Long (@byHeatherLong) April 26, 2019
"If we kept the same interest rates and the same quantitative easing that the previous administration had, that 3.2 would have been much higher than that."https://t.co/lPKPLIV3pj #GDP #Fed
Sad! 