Rex Nutting: Here’s why you should ignore quarterly GDP numbers

This column was originally published on March 29. It has been updated.

The bears have picked up on a couple of troubling trends: 1) The Federal Reserve is getting aggressive about raising interest rates; 2) the stock market is swooning; and 3) the yield curve is flattening. Those are all clues (but not definitive proof) that a recession is coming, they say.

And here’s the kicker: It appears economic growth was mediocre during the first three months of the year. After growing at nearly 3% for the previous three quarters, gross domestic product looks like it grew at 2% or less during this last quarter, with a broad-based slowdown in final sales, such as consumer purchases, business investment and residential investment.

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