GDP is selling the US economic recovery short ...Middle East

The US economy shrank by 1.4% in the first three months of the year, but that number isn’t a complete picture of where the US economy is headed.Private domestic demand—which strips out inventories and net exports—was up 3.7% in the first quarter, showing that Americans were still ready to get out and spend during the first quarter. Other signs the recovery is on solid footing: Consumption moved up 2.7%, business fixed investment was up 9.2%, and residential investment was up 2.1%.“Domestic demand was very strong in the first quarter—it actually rebounded from the fourth quarter,” said Kathy Bostjancic, chief US economist at Oxford Economics.Read the rest of this story on qz.com. Become a mem

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