https://finance.yahoo.com/news/live-second-quarter-gdp-120810799.html
https://www.nytimes.com/2018/07/27/business/economy/economy-gdp.html
Friday’s figures were pumped up by a surge in exports. Paradoxically, the export boom was driven in part by mounting trade tensions, which led foreign buyers to stock up on American products before their governments imposed tariffs.
The trend is particularly clear in exports of soybeans, which were up more than 50 percent in May from a year earlier. Those buyers presumably didn’t want more soybeans than usual — they just wanted them sooner. Exports will almost certainly slump in the third and fourth quarters, and will turn into a drag on overall G.D.P. growth.
"We’re getting explosive growth in the second quarter because of trade,” said Ellen Zentner, chief United States economist for Morgan Stanley. “You’ve got a big hole on the other side of that.”
Submitted July 27, 2018 at 08:32AM by GloBoy54 https://ift.tt/2OlrWgg
