It’s four months later and, if anything, the opposite has occurred on every front. The economy appears to be gaining strength. Trump’s approval rating is rising. The Mueller report was a dud. And House Democrats are fighting among themselves.
On the economy, the consensus earlier in the year was for the GDP to barely eke out a gain in the first quarter.
In January, the average growth estimate by economists surveyed by Wall Street Journal was a mere 1.8%. At the time, the Journal quoted Diane Swonk, chief economist at Grant Thornton, saying “the straws on the camel’s back are really piling up and the back’s beginning to bend.”
In February, the National Association of Realtors forecast Q1 growth at just 1.3%.