Gross Domestic Product Trends and Issues
GDP CURRENT QUARTER AND OUTLOOK:
GDP grew at an annualized rate of 3.2% in Q1 2018. Continued growth compared to the 2.3% average growth in GDP since Q1 2010. This growth over prior quarter took place as the age of the current economic recovery in April 2019 is now 118 months in length and the second longest in recent history.
Forecasts for GDP growth over the next few years start at 2.1% - 2.4% for 2019 and ranging from 1.7% to 2.0% for 2020. Slower growth appears to be theme.
In reviewing details on the components of GDP in the graphs and tables below, the open question remains:
Which components of GDP can produce above expectation and above historical trendline growth such that these expectations of low GDP growth can be exceeded and the economic expansion can continue?