BBG Survey: US Q1 GDP seen bouncing back but not reaching Trump’s target

According to a Bloomberg Survey of economists, the US GDP probably expanded at 1% annualized rate in Q1 2017.

Key Quotes:

“As some transitory drags dissipate, economists project a second-quarter rebound similar to the pattern of the past three years”.

“Beyond the quarterly gyrations and a surge in optimism, annual estimates show just 2.2 percent to 2.3 percent growth through 2019, a tad above the average pace during the almost eight-year expansion.”

“While consumer spending will keep underpinning a moderately growing economy, Trump’s goal of 3 percent to 4 percent sustained expansion looks increasingly out of reach.”