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YOUR MONEY with Mark: Friday GDP number could be ‘big’

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MOLINE, Illinois - Every Monday on Good Morning Quad Cities, Investment Adviser Mark Grywacheski joins us live on the air to talk about a range of financial issues and topics.

On Monday, July 23rd, Mark discussed the importance of the current earnings season and how companies are doing after the first full week of it.

He also talked about the GDP report that comes out Friday, July 27. Grywacheski said the GDP number over the past decade has been fairly small at just two percent, but he believes the number that'll come out Friday will be almost twice that, at four percent. Regardless, he says there's still a bit of an unknown for manufacturing companies, especially because their quarterly earnings have not been released yet.

"I think there's a lot of apprehension about how they're holding up in this current environment," Grywacheski said Monday. "Not only are they facing rising inflation, interest rates and energy costs, but more than any other industry in the U.S.m they're facing the brunt of these trade disputes, and these trade disputes increase their manufacturing costs, as well as inherently reduce both global and domestic demand for their product."

A four percent GDP increase would double up on the two percent gain we saw in the first three months of 2018. The report will come out less than two weeks after Federal Reserve Chairman Jerome Powell told lawmakers strong economic growth will keep the central bank on a path to gradually raise interest rates. 

Your Money With Mark airs live on Good Morning Quad Cities every Monday between 5 a.m. and 5:30 a.mTo live stream our newscast from our website, click here.

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