Economic Insights – May 2013

The initial number for first quarter GDP growth came in at 2.5%, but by the time it's corrected and adjusted, we expect the final number to be 3.1%. We know that the combination of reliable numbers — that is consumer spending, business investment, and home building — expanded at an annualized real rate of 3.8 percent, the fastest pace of growth in these portions of GDP since 2010. The other, less certain, components of GDP, such as inventories, government purchases, and trade, are expected to pull GDP growth downward, but we forecast that th.....