U.S. Econ. Data Are Stronger the More You Look

Last Friday, the US Bureau of Economic Analysis (BEA) slashed Q4 GDP growth in half after revisions, freaking many out. Predictably, it fed a narrative arguing the economy was weaker than previously thought heading into the Iran conflict, making it more vulnerable to an oil shock and other potential disruptions. But slow down. The latest data show Q1 growth off to a decent start and, looking ahead, we don’t think growth appears to be in jeopardy. Read Full Article »