First Quarter GDP Growth 3.2% Beats All Expectations….

The Bureau of Economic Analysis (BEA) released the first quarter GDP numbers today and far exceeded all forecasts. The rate of growth in the first quarter was measured at 3.2% far above the anticipated 2.5% range; and the annual rate of inflation remains low at 1.7%.

The economy grew at a surprising rate of 3.2% in the first quarter, well above the consensus forecast of 2.5%. Also reported Friday was the latest PCE inflation data for the first quarter, showing core inflation at 1.7% year over year, down from 1.9% in the fourth quarter. (more)

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This entry was posted in Big Government, Donald Trump, Economy, media bias, President Trump, Trade Deal, Uncategorized, US Treasury. Bookmark the permalink.

67 Responses to First Quarter GDP Growth 3.2% Beats All Expectations….

  1. Caius Lowell says:

    In other words, 0bama was doing for America what Chavez was doing for Venezuela…

    Liked by 4 people

    • GB Bari says:

      Ozero was doing TO America what Chavez was doing TO Venezuela.

      FIFY.

      Liked by 4 people

    • sundance says:

      Liked by 4 people

      • Caius Lowell says:

        “Venezuela: A Country in Crisis” by Paul Coyer

        If ever there were an example of a government not performing even the most basic of ethical duties to its citizens, it is that of Venezuela under Nicolás Maduro and the PSUV (Partido Socialista Unido de Venezuela or United Socialist Party of Venezuela). Despite the fact that Hugo Chavez came to power on the back of a moral argument that his “Bolivarian socialism” would lead to less income inequality, less poverty, less corruption, and greater social justice, Chavismo has in fact produced precisely the opposite, and in starker terms than could possibly have been imagined 20 years ago when Chavez came to power. My in-laws, forced to flee Fidel Castro’s revolution in Cuba, from whence they ended up in Venezuela, immediately saw the striking parallels between Castroism and Chavismo and emigrated to the United States shortly after Chavez came to power, noting that they had seen this story (socialism) before and that it did not end well. Wisdom gained through bitter experience.

        Liked by 6 people

    • The Phantom Stranger says:

      Barry’s entire administration only cared about transforming America to his dream of a socialist state.

      Every policy that came out of his administration was about setting up the Democrats long term for control of our Federal Government.

      It’s why his actual track record looks worse and worse with each passing day when examined closely.

      Liked by 2 people

  2. Luke of the D says:

    I thought 2% was “the new normal?”

    Liked by 2 people

  3. FL_GUY says:

    Every time one of these good results comes out, and it is frequent due to the hard work of President Trump, I hate the SOS media-rats more. I am sick of the hate incitement they spout every single day; it has to end now.

    President Trump has done amazing things for We the People, while up to this point, having both hands tied behind his back, making our lives better. The media-rats continue to spout lies, incite violence and attempt to make everyone miserable. We should be happy but those POS media-rats continue to crap on our parade.

    Liked by 5 people

    • Dekester says:

      Agreed FL-Guy, it is truly incredible what he has accomplished. I too get sick at the constant aggression and disrespect they show for your President.

      The good news is that all those that voted for him will again vote for him, and with a vengeance.

      There will be millions of more that join them.

      God bless PDJT

      Liked by 5 people

    • zozz1 says:

      Worth noting that the media and the Dems are undergoing a seismic shift…even if sometimes subtle. Evidence: NYT now dissing the Dossier. Tom Friedman visiting the border and saying that we need borders and a very tall wall. Bob Woodward dissing the Dossier. Dem candidates dissing Trump a little less and coming out with wacko proposals (Warren and college loans; Bernie and prison voting; etc.) as attention grabbers. A little less rhetoric from Schiffhead, Cummings, et al. My thoughts: it has dawned on all those creeps that the jig is up. They are out of ammunition…the ammo dump went up in a big explosion called the Mueller Report. The media are trying, hoping (to no avail) to salvage their reputations and credibility. They went too far out on the limb, though, and it will be a long, long crawl back…if they ever get back. For the others, from Obama and Clinton on down through the entire corrupt bunch, they will be fully occupied ratting each other out as they try desperately to save their skins and to stay out of orange jumpsuits.

      The IG Report, and then Barr’s investigation, will put the final nails in all their coffins, and Donald J. Trump will still be President of the United States of America. God Bless America.

      Liked by 4 people

      • zozz1 says:

        As the media quit colluding with the Dems to “get Trump”, and begin to worry about saving themselves, the Dems will feel the chill…and as the American voters turn against them…and the Dems will not have the media to defend them. Lots of dynamics at work here, if you think about it.

        Trump was wise to stand back and to let the entire Mueller thing play out. Now, there is really nothing that the Dems can do to stand in the way of Barr…Barr can run the ball the length of the field and right into the end zone. They can just watch their swamp dreams go down the drain…

        Liked by 2 people

      • zozz1 says:

        As the media quit colluding with the Dems to “get Trump”, and begin to worry about saving themselves, the Dems will feel the chill…and as the American voters turn against them…and the Dems will not have the media to defend them. Lots of dynamics at work here, if you think about it.

        Trump was wise to stand back and to let the entire Mueller thing play out. Now, there is really nothing that the Dems can do to stand in the way of Barr…Barr can run the ball the length of the field and right into the end zone. They can just watch their swamp dreams go down the drain…

        Like

    • screwauger says:

      I work in a sea of leftist’s. This morning, while discussing social work topics in a unit meeting, one of the gents starts this soliloquy about how blue he feels all of the time lately. He states “it feels like we are all living atop this ever moving bed of lies and distortions” about out world and our lives. I nearly busted out laughing. I know from eavesdropping and other dramatic presentations this guy has made, that he is a died in the wool never trumper or never conservative (Pres Trump is just this years model to him). Therefore, I know what he would define as the source of his “blueness.” Leftist’s don’t want to be happy or enjoy any aspect of a Country doing well. It really is tough to get your brain around that, for me anyways.

      Liked by 1 person

    • sundance says:

      Liked by 10 people

  4. Skippy says:

    Please CTH Tweepers, remind my how to directly contribute to President Trump safely

    Like

  5. stablesort says:

    Those in the swamp who promote ‘stimulus’ spending have suffered quite a set back. How are they going to counter the 1st Quarter economic growth given that the government was shutdown for a third of the quarter?

    Liked by 12 people

  6. stablesort says:

    Those in the swamp who promote ‘stimulus’ spending have suffered quite a set back. How are they going to counter the 1st Quarter economic growth given that the government was shutdown for a third of the quarter?

    Liked by 3 people

  7. JD says:

    More really bad news. (For the anti-Trump crowd). Gotta keep this short, I need to spend an inordinate amount of time belly laughing.

    Like

  8. Sterling1776 says:

    This is what happens when you have a President who believes in supporting the American worker versus subsidizing the rest of the world for imagined grievances of imagined wrongs.

    Liked by 5 people

  9. William Schneider says:

    Trump is the man for the American worker of every color and age. This is no racist-and any democrat will have a tough time taking this president out. It is the economy stupid!! Trump has always known that.

    And now we have a new sheriff in town to keep order in this once lawless land- our good friend AG Barr. Let the good Godly times roll!! Praise God!!

    Liked by 1 person

  10. sundance says:

    Liked by 5 people

  11. Mercenary says:

    I’m no expert, but this could be quite a year for GDP.

    Look at this graph:

    https://ei.marketwatch.com/Multimedia/2019/04/26/Photos/MG/MW-HI345_GDPC1_20190426094149_MG.png?uuid=0af57f54-6829-11e9-98ad-9c8e992d421e

    from this link: https://www.marketwatch.com/story/economy-grows-32-in-first-quarter-gdp-shows-much-stronger-than-anticipated-2019-04-26

    For the past 4 years, the First Quarter has always been the lowest GDP. In fact, 1Q has basically almost always been below 2%.

    As Sundance has mentioned many times, you don’t have to actually generate new economic activity in order to increase GDP. You simply have to narrow the trade deficit.

    Last year, the difference between Q1 & Q2 was a full TWO points. For the past couple of years, Q2 has usually been the highest, followed by Q3, then Q4, then Q1. In other words, if this follows trends, you could see a Q2 of 5%!!! Be still, my beating heart.

    All that to say that if this follows past patterns where Q1 has always been the lowest Quarter, we could be in for one heck of a year, GDP-wise. Very awesome if true.

    Liked by 6 people

    • INFLATION will STAY LOW-to-LOWER !!!
      … BLOCKING the Fed from mindless Rate Hikes.

      America is REINDUSTRIALIZING
      • To benefit from Trump’s Regulatory Cuts that increase Profitability
      • To benefit from Trump’s Tax-Rate Cuts to keep more of those Profits
      • To use Trump’s Capital Gains Expensing to expand for faster Revenue Growth
      • To expand Exports-to-Partners
      • To rapidly displace Imports-from-China

      This will REPLICATE GLOBAL SUPPLY CAPACITY

      “OVERCAPACITY for SUPPLY” will DRIVE PRICES LOWER
      • Price-Reduction Competition to keep Market Share
      • Price-Reduction Competition as Trade Barriers Fall for USA Exports
      • Price-Reduction Competition to keep Plants Running
      • Productivity Investments to reduce Producer Costs (Automation, AI, etc.)

      This will SUSTAINABLY SUPPRESS INFLATION

      FTA: “Inflation, as measured by the personal consumption expenditure price index, fell to a 1.4% annual rate in the first quarter from 1.9% in the prior three-month period. The decline in core PCE inflation was less pronounced, slipping to 1.7% from 1.9%. The monthly inflation numbers will be released on Monday.”

      Liked by 3 people

  12. Sargon7 says:

    Amazing results. And, doubly impressive given only the USA, Saudi Arabia and Russia had positive YOY GDP growth for the period.

    Like

  13. GDP TRACKING @ 4.4% for 2019 !!!
    [reposted from Presidential thread]

    “2019 Starts off with a Bang in the First Quarter with Strong Economic Performance”

    Congressional Budget Office and the Federal Open Market Committee on average projected four-quarter real GDP growth in
    • 2017, 2018, and 2019 of
    • 2.2,
    • 2.0, and
    • 1.7 percent, respectively.

    In actuality, real GDP grew
    • 2.5 percent in 2017,
    • 3.0 percent in 2018, and in the Q1 of 2019 grew at an annualized rate of
    • 3.2 percent.

    Over the past 25 years, the Q1 estimate has, on average, been
    • 0.9 percentage point lower than the average of Q2, Q3, and Q4 estimates. 

    Bureau of Economic Analysis (BEA) now estimates that the partial government shutdown in 2019:Q1 lowered the overall growth rate of real GDP by
    • 0.3 percentage point at an annual rate

    In the absence of residual seasonality and the government shutdown, real GDP growth in the first quarter of this year might have been up to
    • 1.2 percentage points higher, implying an annualized growth rates of
    • 4.4 percent.

    https://www.whitehouse.gov/articles/2019-starts-off-with-a-bang-in-the-first-quarter-with-strong-economic-performance/

    REASONS:
    • Disposable Income & Consumption Growth
    • Manufacturing Expansion & Plant Equipment to Grow Supply
    • Intellectual Property & Productivity-Systems Investments
    • Net Exports are UP … before USMCA and China Deals kick in
    • Inventories are UP … covering Production & Logistics Delays (Workforce gaps)

    Liked by 4 people

  14. Dazza says:

    J-J-J-J Jumpin’ juju bones!!!

    Liked by 1 person

  15. CNN_sucks says:

    Build the wall and infrastructure.

    Like

  16. wee2low says:

    Sooooo it’s really 3.4

    Like

  17. This has really positively affected the company I work for and my job security! In fact, last year they laid people off in my department, and this past month they just had to hire more people. (My job is directly related to how much people are buying “stuff”…).

    Liked by 2 people

  18. leftnomore says:

    Wait till the ‘rats learn how the new arrivals are crediting DT for their jobs. The people they imported for future votes are turning against them, thanks to economic growth.

    Like

    • TreeClimber says:

      Ahhhhh, I love that video. “What magic wand do you got” It’s called more than two brain cells to rub together… and the facial expressions are well and truly priceless. I feel like we need an updated version, though!

      Like

  19. TreeClimber says:

    So about a month ago my husband got his first permanent (non-contract) non-cabling job, working for a Boeing permanent contractor. $11.25 an hour. Just barely enough for us to make it.

    Yesterday drove 100 miles to Columbia for an interview for a $16.25 an hour job. Got the call this morning, he starts when they finish the paperwork. It’s IT – doing repair for the local school district – his niche, and what he has his education in. Thank the Lord and President Trump! We’ll definitely be able to pay our bills on that – and I’ll be able to tone down my obsession with the microjobs I’m doing and actually get some sleep…

    Liked by 6 people

  20. WRB says:

    Compare the 3.2% to what the Atlanta Fed nowcast was predicting: 2.7% and the “blue chip consensus” prediction of 1.5%.

    (See https://www.frbatlanta.org/cqer/research/gdpnow.aspx)

    Liked by 1 person

  21. Troublemaker10 says:

    Like

  22. Ghost says:

    Observations from a smaller limb.

    Personal saving rate as a percentage of disposable income rose from 6.08%: $1.07 trillion in 2018 4th quarter. To 7.0%: $1.11 trillion in 2019 1st quarter.

    How about a comparison with Germany, they haven’t reported GDP yet but U.S. personal savings is more than 25% of their last years 4.09 trillion GDP.

    😎

    Like

  23. Tseg says:

    Just like Democrat and Republican politicians are different sides of the same coin, so are economic and political pundits. You remember all the polls and experts that guaranteed a victory for HRC?… likewise, they will never predict success for the economy, rather act in amazement when it outperforms their biased expectations.

    Like

  24. rustybritches says:

    please will someone look at the wording under the picture of President Trump above does not sound right but one thing I do know for sure This President has done more for this country than Obama did in 8 years and I am really tired of the people who keep trying to give this credit to Obama First and foremost He blamed Bush for 8 years about all that was wrong with America and now he has been out of office for almost three years and that jerk has people still saying that the recovery belongs to all that Obama did We all know what he did and that was make sure that this country was floundering and thousands of business was leaving every day
    more people on food stamps more people on welfare more people that was not disabled on disability because Obama and his goons didn’t want to do anything but bring America to her knees
    they threw the best health insurance down the drain for Obama care and we are still saddled with that mess because the Republicans would not put a stop to it for the last time..
    I cant believe anything they say about now Joe Biden being what the people want
    I cant understand why anyone of the world leaders could possible trust biden over PT
    but then what do I know.

    Like

  25. NJF says:

    Woke up to this news today, & all I could think was wow.

    Like

  26. mr.piddles says:

    At what point do The Smartest Guys In The Room realize and accept that we can all prosper together? Raise all boats and all that. Ever?

    I know, I know. It’s a big ask.

    Liked by 1 person

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