Perspectives Blog

May 2013 Archive

The U.S. economy — a gain in GDP?

Marie M. Schofield, CFA, Chief Economist and Senior Portfolio Manager | May 2, 2013

First quarter advance estimate of GDP shows annualized growth of 2.5%, which was below expectations. Positive contributions from personal consumption, fixed investment and inventories were shaved by negative contributions from net exports and government expenditures. This quarter’s weaker economic data will temper views of the Fed backing away from quantitative easing (QE) sooner rather than