This is not good news for the US economy. USA might be having the worst financial crisis if the economy continues to grow at this rate for the rest of the year. From the news I got from the media today, statistics were showing a fall in the contribution of inventory investment to Q1,
a fall in real personal consumption expenditures, a fall in real nonresidential equipment investment, a fall in the contribution of inventory investment to Q1 growth.
This is a long list to have it coming from one of the most economically powerful countries.
Many countires are advising their citizens not to visit USA as a result of Trump's policies which are pressing non citizens in USA. This has led to a drop in tourism, overseas studying, foreign business travels, visa inquiries. There are a lot of investigations and prosecutions from the IRS with the tax authorities granting themselves the ability to try and seize foreign assets to pay fines for those not having filed US tax statements. This I believe is the reason the economy is going down.
Let's pray for the reforms to be reviewed. This I believe will stabilise the economy.