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Economy

progree

(11,580 posts)

2. GDPNow: It's been minus 1.2% since July 8 (not minus 1.9%)

Reply to mahatmakanejeeves (Original post)

Tue Jul 12, 2022, 11:44 AM

Jul 2022

https://www.atlantafed.org/cqer/research/gdpnow

I think this clown reporter is just reading something he scraped off the Intertubes. Any idiot can check in 3 seconds, just type GDPNow in Google and it pops right up at the top.

I know that's thin beer, but one should read the the disclaimer, e.g.

GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available economic data for the current measured quarter. There are no subjective adjustments made to GDPNow—the estimate is based solely on the mathematical results of the model.

Also the latest consensus of the Blue Chip survey of economists is PLUS 3.0%, although that was about June 26 according to the graph.

I can't believe the economy fell apart between June 26 and July 8, but because the July 8 jobs report failed to show 2 million jobs created in June, it might have. (sarc)

And now we have the Breakfast Taco-Gate scandal consuming the presidency (sarc)

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This Recession May Be Mild. The Second One Will Be Worse. [View all] mahatmakanejeeves Jul 2022 OP

The NBER clarification isn't going to help much politically FBaggins Jul 2022 #1

GDPNow: It's been minus 1.2% since July 8 (not minus 1.9%) progree Jul 2022 #2