Why Weaker GDP Is Being Greeted With A Yawn
The nation's economy grew just 0.7% last quarter, the slowest rate in three years and less than what was expected, but it was greeted with a collective yawn by investors. Why?
The main reason is that a slow growth rate for the first quarter was widely expected. Economists at the Atlanta Federal Reserve earlier this month had projected a growth rate of just 0.4%.
In addition, the slow first-quarter growth rate is expected to be followed by much stronger growth for the next three quarters of 2017. The 61 economists surveyed in early April by The Wall Street Journal said they expected to see an average quarterly growth rate of 2.6% over the three quarters ahead.
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