Sage Advice Quarterly Market Review 3Q1998

To no one’s surprise, the economy hit a speed bump in the second quarter, as real GDP downshifted to a 1.4% growth rate from the first quarter’s robust 5.5% pace. As abrupt as the slowdown was, it was not as severe as many had expected. Indeed a large contingent on the Street expected the economy to fall into a pothole, with real GDP contracting during the period. Upon revision, that may still be the case as the all-important inventory and trade data for June have yet to be reported.

  • DATE: September 30, 1998

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