COVID-19 Updates
Home » Industry News » U.S. Economy Grows 3.2% in Q1 2019
U.S. Economy

U.S. Economy Grows 3.2% in Q1 2019

The U.S. Department of Commerce announced that the country’s gross domestic product (GDP) had risen by an annual rate of 3.2 percent in the first quarter of 2019, according to The New York Times.

GDP is the “broadest measure of goods and services produced in the economy,” and its growth was higher than analysts had predicted, according to the Times.

Some economists believe the report was “inflated by short-term factors and probably overstated the underlying pace of growth,” according to the report. The figure could be revised downward later this year.

“The angst has settled, and the economy has come back,” says Ben Herzon, an economist with Macroeconomic Advisers, a forecasting firm. “I just can’t point to anything now that’s going to push us into recession.”

In February, the U.S. Department of Labor said the economy had added jobs for the 100th consecutive month.

About Todd Taber

Todd Taber
Todd is an assistant editor for Hardware Retailing magazine. He graduated from Indiana University where he majored in journalism and French. Throughout his career, he has aimed to highlight small businesses and their community value. He joined NRHA in 2017 and now serves on the news and marketing teams. In his free time, he likes to run, spend time with family and travel the country.

Check Also

marvin ellison

Lowe’s CEO Discusses Changing Retail Landscape

Lowe’s president and CEO Marvin Ellison recently discussed how the big-box home improvement chain is …