“Markedly improving”? Q1 GDP estimate upgraded … to 1.2%

Improved, yes, but does today’s data suggest that the economy is “markedly improving,” as one-time Labor Secretary nominee Andy Puzder argues? The second iteration of the first quarter’s annualized GDP growth rate doesn’t exactly paint a rosy picture. While the new estimate improves on the advance report of 0.7% annualized GDP growth, today’s interim report only boosts it to 1.2%. That’s not exactly a strong endorsement of rapid growth, and the revision