US economic growth stronger than expected despite weak demand
by Phillip Inman from Economics | The Guardian on (#4DYV3)
Stockpiling by businesses helps provide growth of 3.2% in first quarter of 2019
US economic growth surged in the first three months of the year to 3.2% as the threat of a trade war with China forced businesses to stockpile at the fastest rate since 2015.
Figures from the Department of Commerce showed that a jump in hoarding raw materials and finished goods and an increase in government investment overcame weak consumer spending, a drop in housebuilding and low business investment to send GDP growth well ahead of the 2.2% in the last quarter of 2018.
Continue reading...