GDP, Consumer Sentiment Points to Cruise Control Economy

Today the Commerce Department and the Conference Board gave us the final two economic indicators of this week.  The advanced quarterly GDP figure for the first quarter of 2013 came in at +2.5 percent, representing a decent acceleration from the 0.4 percent of the prior quarter.

The details of the GDP data show a private sector continues to grow at a reasonably moderate pace despite growth stunting tax burden increases and small federal spending reductions (any article that calls the federal spending “cuts” as deep simply has an agenda or is simply mimicking prior statements).  Overall, investment private domestic investment grew +12.8 percent on a seasonally adjusted annual...