The recent BEA "Advance Estimate" for 1q GDP growth showed a lackluster drop of 0.3 percent, but it included unusually large swings in private inventories and imports, as well as a drop in federal expenditures. Some MAGA fans have argued that once you account for these misleading figures, the report signifies a healthy economy. Murphy mostly disagrees, and shows why the report--taken at face value--does indeed signify poor economic performance. 

• Peter St. Onge, "GDP Goes Negative. And it's Glorious.": Mises.org/HAP499a
• The GDP Report: Mises.org/HAP499b
• Human Action Podcast on Unpacking Trumps Tariff Strategy: Mises.org/HAP499c
• Bob's Mises Daily Article, "Inventories Don't Kill Growth — People Kill Growth": Mises.org/HAP499d
• Bob's Article, "Sorry MAGA, the GDP Report Is Not Rosy": Mises.org/HAP499e

The Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree