The economic tea leaves right now are getting hard to read. The latest measure of economic growth showed the economy expanded at a lackluster 2 percent rate in the first quarter. Estimates for second-quarter growth are much higher, and that has the Trump administration claiming its policies are working. Still, despite that rosy forecast, more analysts are pointing to worrying signs that with the expansion at nearly nine years and counting , a recession could be looming. President Trump has long predicted that his policies will spur growth so much that the economy will expand at a rate well above 3 percent — maybe even 5 percent. Many economists have scoffed at rates that high. "A year ago, people were laughing when we talked about 3 percent GDP," Treasury Secretary Steven Mnuchin told CNBC this week. But he noted that some analysts forecast that the next reading of the nation's gross domestic product will show growth above 4 percent. "We're expecting a big second-quarter GDP number,"
↧