Growth is likely slowing after a hot first quarter

Mitchell Hartman May 30, 2019
HTML EMBED:
COPY
People work in a cafe in midtown Manhattan in February in New York City.

Growth is likely slowing after a hot first quarter

Mitchell Hartman May 30, 2019
People work in a cafe in midtown Manhattan in February in New York City.
HTML EMBED:
COPY

U.S. gross domestic product rose 3.1% on an annual basis in the first quarter of 2019, according to the second estimate released by the Bureau of Economic Analysis. GDP growth for Q1 was previously reported at 3.2%. GDP grew at a 2.2% annual rate in the last three months (Q4) of 2018.

But as the economic expansion enters its 10th year, there are obstacles to continued robust growth — including increasing uncertainty about trade policy, tariffs and negotiations with China; the global economic slowdown; a pronounced slowdown in manufacturing; and a pullback in U.S. consumer and business spending. Many economists now predict that annualized GDP growth in the second quarter will come in at 1.5% to 2%.

Click the audio player above to hear the full story.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.