Elder Patriot – The economy expanded by 3.2% during the first quarter of 2019 according to the Bureau of Economic Analysis initial report exceeding the 2.5% forecast of economists polled by Dow Jones.
The U.S. economy grew at a faster pace than expected in the first quarter and posted its best growth to start a year in four years.
First-quarter gross domestic product expanded by 3.2%, the Bureau of Economic Analysis said Friday in its initial read of the economy for that period. Economists polled by Dow Jones expected growth of 2.5%. It was the first time since 2015 that first-quarter GDP topped 3%.
Some economists had forecast a growth rate even lower, at no more than 2%.
The 3.5% growth rate is reflective, at least in part, of the successful return of the entrepreneurial Main Street economy, a market segment the multinational globalists invested in the Wall Street economy had worked with former President Obama to minimize.
With the return of America’s entrepreneurial economy, the broadening economic base bodes well for the overall economy in the event of a downturn.
“The upside beat was helped by net trade (exports jumped while imports contracted sharply)…
Exports rose 3.7% in the first quarter, while imports decreased by 3.7%. Economic growth also got a lift from strong investments in intellectual property products. Those investments expanded by 8.6%.
Ponder that for just a second.
President Trump has been focusing his trade policies on the economy-draining imbalance in trade that has resulted in the exfiltration of American wealth to foreign trading partners.
These first quarter results prove that the president’s policies are beginning to result in success.
The same can be said for President Trump’s emphasis on protecting the intellectual property rights of U.S. based companies.
American workers, those forgotten men and women the president promised to help during his campaign are also benefiting from Trump’s economic policies:
Disposable personal income increased by 3%, while prices increased by 1.3% when excluding food and energy. Overall prices climbed by 0.8% in the first quarter.
The president’s big government detractors will also have difficulty explaining these numbers when the federal shutdown is factored in:
Friday’s data was the first look at how the economy fared during the longest government shutdown in history. The federal government ceased operations for 35 days between late December and Jan. 25 amid a standoff between the Trump administration and congressional Democrats over funding for a wall along the U.S.-Mexico border.
For the first quarter the federal government was shuttered for 25 of the 90 days during the period or nearly 28% of the time.