US GDP Growth Rebounds To 3.1% In Q1

Posted by Wayne Duggan

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Despite concerns over a slowing global economy and negative impacts of the ongoing trade war with China, the U.S. grew its gross domestic product by 3.1% in the first quarter of 2019, up from just 2.2% growth in the fourth quarter of 2018.

The growth was surprisingly strong given falling economic growth forecasts around the world, a volatile stock market, an ongoing trade war with China and more dovish commentary from the Federal Reserve.

After a fourth-quarter sell-off, the S&P 500 surged more than 14% in the first quarter, one of the strongest starts to a year in history. Concerns over a near-term U.S. recession eased, and economic growth numbers suggest the U.S. economy is on a stronger footing than previously feared….CLICK for complete article