2019 ROI First Quarter Edition 2019 - HIS Capital Group | Page 30

The U.S. consumer portion of GDP isn’t as strong. The first quarter’s data point came in at 1.2%, which was weaker
than the previous three quarters of 3.7%, 2.5%, and 2.4%, respectively. The American consumer generally has
been more cautious during this expansion than in prior expansions, perhaps because wage growth has been
slower.
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