If the Atlanta Fed’s GDPNow nowcast is to be believed, after languishing near zero growth for most of the third quarter, in the past few days the US economy is now showing growth for the third quarter of 2.3%.
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2022 is 2.3 percent on October 3, down from 2.4 percent on September 30. After this morning’s construction spending release from the US Census Bureau and the Manufacturing ISM Report On Business from the Institute for Supply Management, a decrease in the nowcast of third-quarter real personal consumption expenditures growth from 1.0 percent to 0.7 percent was slightly offset by an increase in third-quarter real gross private domestic investment growth from -4.2 percent to -4.1 percent.
Of course, this probably means that September inflation is going to come in higher than in August.
PNK - have read some conclude that the Fed's clear absence from action and even comment on the world's chaos is a sign they are committed to their rate hikes and their ostensible fight against inflation (or as some would contend, their fight against the WEF/Davos crowd). Is that a fair read, or do you have a different view?
PNK - have read some conclude that the Fed's clear absence from action and even comment on the world's chaos is a sign they are committed to their rate hikes and their ostensible fight against inflation (or as some would contend, their fight against the WEF/Davos crowd). Is that a fair read, or do you have a different view?
Elections are only weeks away.
“Is it real or is it Memorex?”
“October surprise?” or legerdemain?
It’s all manipulated isn’t it?. All of it.