The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2017 is 0.5 percent on April 14, down from 0.6 percent on April 7. The forecast for first-quarter real consumer spending growth fell from 0.6 percent to 0.3 percent after this morning’s retail sales report from the U.S. Census Bureau and the Consumer Price Index release from the U.S. Bureau of Labor Statistics.
Yes, retail sales advance MoM is down in March by -0.2% following February’s print of -0.3%. And CPI MoM was down -0.3% in March as well.
Liquidity moves markets!Click here to learn how you can follow the money.
So, Q1 2017 GDP is now forecast to be … 0.5%.
Is this really surprising given that US Real Average Weekly Earnings growth has been generally decreasing since early 2015?
Some had better call Stan(ley Fischer) and tell him to look at the economic numbers before raising The Fed Funds Target Rate again and shrinking the Fed’s Balance Sheet!!!
Wall Street Examiner Disclaimer: The Wall Street Examiner reposts third party content with the permission of the publisher. I curate these posts on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. In some cases promotional consideration is paid on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler and no endorsement of the content so provided is either expressed or implied by our posting the content. The Wall Street Examiner makes no endorsement or recommendation regarding them. Do your own due diligence when considering the offerings of third party providers.