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U.S. GDP Tops Forecasts at 3.2%

The U.S. Commerce Department reported late last week that the gross domestic product (GDP) grew at a stronger-than-expected 3.2% for the first quarter of 2019.  This marked the highest first quarter total since 2015 and sent encouraging signals that the U.S. economy remains resilient in the face of slowing global growth.  In its report, the Commerce Department noted that the growth could be attributed to a downturn in imports, greater state and local government spending and rising inventories.  These were partially offset by slower consumer spending and fixed investment.  See Forbes and Bloomberg

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