1Q GDP Was High Quality (If Not High Growth)
Though the market wasn't thrilled with Friday's GDP report, there was a lot to like in the first-quarter numbers.
Housing data led the economic data parade this week with a trifecta of good news: housing prices, new home sales, and pending home sales.
The economy has had a very hard time moving housing metrics up across different reports, so this week's good news was particularly welcome. The housing data was finally good enough to make the second positive contribution in a row to real quarterly GDP growth.
Robert Johnson, CFA does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.