There has been a lot of confusion about that 1.4% quarter-over-quarter drop in “real” GDP. So let me just go through what didn’t cause it, and then what caused it. What caused it was a freak event, and this freak event is likely to start unwinding in Q2. We’re already seeing some evidence of it.
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That Q1 GDP Drop Was a Freak Event that’ll Get Unwound in Q2
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