Nuveen Asset Management Chief Equity Strategist Bob Doll spoke with FOX Business Network’s (FBN) Maria Bartiromo during Opening Bell with Maria Bartiromo about the Gross Domestic Product (GDP) saying, “I think we will have a 4 plus percent” in the second quarter. Doll went on to say, the “last four quarters 2.0 was the average. I think that’s how the economy has been, 2.0.”
Bob Doll on GDP being down one percent:
“I think hours work went down almost 2.5 percent, hours’ work are never down unless we are in a recession. We are not in a recession, so it was weather…we had some inventory as well and some other numbers that didn’t do well. Look, last four quarters 2.0 was the average. I think that’s how the economy has been, 2.0, but I think we are going to have a much better quarter. In part because we are going to make up what we lost in the first quarter and some underlining trends – initial unemployment claims earlier today as an example. I think we will have a 4 plus percent quarter in two.”
