Despite it’s length and the exorbitance of asset purchases by quasi-government agencies, this recovery is becoming harder and harder to poke holes into. All of the usual indicators point to health, notwithstanding asset levitation.
As shown above, this is the first time since Q3 of 2014 that real GDP as risen above 3% in two consecutive quarters-on a QOQ basis. Unlike the prior feat, this is not coming off a negative GDP read. On an even brighter note, this GDP number was fueled by personal consumption spending which may mean the average Joe is feeling a bit more confident in their lot.