Today’s GDP came in higher than expected.
Imagine that. Experts wrong again.
Second quarter GDP was 2.1% vs. the expected 1.8% – much better. Even I could have told them that – and I am not a financial analyst.
This economy is doing very well. You can see it around Midtown. More people are getting work done on their homes. Expensive cars line the streets. Restaurants are doing well.
Not only is the GDP good, but personal spending also hit a 5 year high at 4.3%.
This chart from Zero Hedge explains.
It also looks like inflation is non existent.
Fed Chair Powell is expected to lower rates on Tuesday. That should propel the economy also.
Surprising what can happen when a businessman is in charge, isn’t it?