By Mike Walden
Recently, the U.S. Bureau of Economic Analysis released its quarterly GDP report, the first of the year and the first during the new Trump administration. Normally, this report is a “yawner” for most people, and only gets the attention of economists and others who track the economy on a day-to-day basis. Yet this report was different. It motivated many to declare a “code red” condition for the economy.
What do I mean by code red? In everyday use, code red means a dangerous and dire situation. Applied to the medical field, it tells first-responders and medical professionals to be ready for an emergency. So, why did the GDP report prompt many to see a code red situation in the economy, and are they correct?
But before addressing these questions, what is the quarterly GDP report? GDP stands for gross domestic product. It is a measure of output…
