Atlanta Fed Model Lifts US Third Quarter GDP Nowcast to 2.9%
What recession?
What recession?
The economy continues to defy expectations for a slowdown, casting doubt on the idea that the Fed will cut rates in the first half of this year.
The Manufacturing Recession May Have Hit Bottom A few months ago, we were among the first to notice that the housing downturn appeared to have ended. Now it looks like manufacturing has hit its cyclical nadir. The purchasing managers’ surveys from
The economy is very close to a third straight quarter of contraction.
There’s not much chance of it returning to positive territory this month, meaning a second consecutive quarterly economic contraction is likely.
Consumer spending, manufacturing, and construction have all rolled over as inflation and interest rates drag down the economy.
It’s gotta be Putin’s fault, right?
The third quarter was forecast to see strong growth and falling inflation. Instead, we got high inflation and the pace of economic growth crashed.
The Atlanta Fed’s real-time GDP estimate jumped to 10 percent on Monday following better than expected data on manufacturing and construction spending.
The Atlanta Fed’s realtime GDP estimate jumped to 9.5 percent on Wednesday, up from 4.5 percent a week ago.
The Atlanta Fed’s GDPNow forecasting model moved up on Thursday to indicate the economy growing at a 4.8 percent pace in the second quarter.
The GDPNow forecast has been climbing higher following the releases of good economic data. On May 25, the measure foresaw four percent GDP growth. This rose to 4.7 percent Thursday and ticked even higher on Friday following the better than expected jobs report for May.