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It’s becoming utterly clear: The US is fine after a frigid first quarter
The US economy remains a global bright spot, even after an icy first quarter raised concerns about growth. The official US GDP data is due on April 29. It’ll be bad, but there’s no reason to freak. After all, the US also had a frosty first three months of 2014, and then things rebounded. Growth for the year came in at 2.4%, not sizzling, but not horrific by recent standards. There’s plenty of indication that we’ll see a similar pickup in growth after this year’s first quarter. Let’s examine the evidence. Sales of existing homes, the vast majority of American housing purchases, surged to an 18-month high ... (full story)