Opinion: The GDP report isn’t as bad as it seems, but there are still economic risks ahead

If you grimaced at the most recent US GDP report, you weren't alone. At first glance, it suggested that the US economy may have entered a recession. Growth nosedived in the first quarter of the year, shrinking by an annualized rate of 1.4%. Bizarrely, though, the details of the report show relatively sound economic fundamentals. In fact, looking ahead, there is reason to be cautiously optimistic about economic growth over the remainder of the year.