first three months of the year. this after the gdp increased by nearly 7% in the final three months of 2021. ron insana is with us, cnbc senior analyst and commentator and adviser to schroeder s na. ron, tell me about this turn-around. well, it s a bit of a quirky report, jose, insofar as the number was restrained by a drop in government spending at the federal, state and local levels. we also had just by way of calculation, when imports are greater than exports, that subtracts from gdp, even if people are buying imported goods. so consumer spending was reasonably strong. it s kind of a quirky number. the market s not really taking it at face value. it s looking behind the headlines and seeing the underline strength in consumer spending, in business investment, were both pretty strong. government spending is likely to rebound later. business inventories, which were