Stocks Break Record High On Economic Surprises

The 3.2% rise in gross domestic product was more than twice the 1.5% consensus expected by economic experts in two separate surveys conducted by Blue Chip Financial Forecasts and The Wall Street Journal just three weeks ago.

The growth surprise announced by the Bureau of Economic Analysis on Friday morning immediately set off speculation about whether the strong growth was sustainable and exactly which fundamental factors drove the burst of strength in the government's official first-quarter initial estimate of GDP growth.

"The first-quarter growth figure was inflated by a buildup of inventories and by a steep decline in imports," according to The New York Times on Friday. "Both trends are likely to reverse in the second quarter."

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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