Wells Capital’s Jim Paulsen says that while many have been focused on the recent trouble in tech and momentum stocks, the economy has been faring pretty well and may provide a nice boost for stocks.

“I think we’re north of 3 percent [economic growth], ” Paulsen tells CNBC. “I think the reports have been pretty darn good,” he said. “If you look at the data on Main Street, I think it’s definitely notched up.”

“The consensus [for GDP] is the 2.5 percent number,” Paulsen adds. “If we find out we’re 3 [percent], then momentum on Main Street is going to return greed to Wall Street.”

Paulsen says the market isn’t pricing economic growth high enough for the recent turmoil to lead to a major crisis. He thinks this year will continue to be one in which gains of the past few years get consolidated, but he does think the recent market tumble is creating opportunities. “This [selling] is temporary and probably a buying opportunity, at least in the short-term,” Paulsen said.