“Well, a lot of the nominal GDP growth is oil. I mean, a…” — Bloomberg Surveillance at 19:28
“Well, a lot of the nominal GDP growth is oil. I mean, a lot of the contribution, for example, was very strong state and local government spending, and that was oil. I spoke to the BA about that, and they're basically deflated as they use that to really drive that up. So I do think it's mainly an oil issue.…”
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