GDP is up because inventory is higher than originally forecast. That is bad news. Rising inventory is another sign of economic slowing. Inventory piles up because spending is down. (The second reason is lower gas prices, which reduced our imports, so that is good.) It seems that manufacturers were slow to adapt to reduced demand from consumer, so they kept making stuff, increasing GDP. But if you can’t sell the stuff you made, you’re going to be happy about the economy because you made it? That doesn’t even make sense.
