Growth is likely slowing after a hot first quarter
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%.
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