Details:
Year: 2019
Pages: 4
Summary:
The economy grew at a 3.2% annual rate last quarter, more than double the 1.5% consensus forecast of economists surveyed by The Wall Street Journal. The composition of growth, however, is not as encouraging as the top-line number. Inventory investment, net exports, and state and local government expenditures — three volatile factors that happened to rise concurrently — were the big contributors. In contrast, consumer spending and private fixed investment, the core of the economy, collectively grew just 1.3%
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