Why Weaker GDP Is Being Greeted With A Yawn
The nation’s economy grew just 0.7% last quarter, less than what was expected and the slowest rate in three years, but it was greeted with a collective yawn by investors. Why?
The main reason is that a slow growth rate for the quarter was expected.
Earlier this month, economists at the Atlanta Federal Reserve had projected a growth rate of just four-tenths of 1%.
In addition, a big pick up is expected for the next three quarters of 2017.
The 61 economists surveyed in early April by The Wall Street Journal expected quarterly growth to average 2.6% for the three remaining quarters of 2017.
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