April 30th, 2008 9:02 am | by John Jansen |

 The GDP number does not add a whole lot to our store of knowledge about the state of the economy. Consumption is trending lower and investment spending is rank. Inventory increases and exports saved the economy from dipping below zero.

The current quarter should be slightly lower as the inventory increase is unlikely to be repeated and the labor data tells us that consumer spending will be in the tank in Q2.

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