It’s Almost As If Some People Were Rooting For Recession
Back on August 30, I wrote:
EJ Antoni (Heritage) is dubious about GDPNow’s (and other nowcasts) regarding Q3 growth. From X aka Twitter today:
“Latest Q3 Nowcasts: ATL 2.5% (2.0% prev) NY 2.49% (1.94 prev) STL 2.05% (1.65 prev) It’s going to take stellar consumer spending numbers for Aug and Sep to make this a reality:”
Well, here’s a picture of nowcasts as of today. GDPNow is 3.4% q/q AR for Q3, up from 3.2% on 10/9.
(Click on image to enlarge)
The nowcast for consumption was 3.8% q/q AR. I noted that this was plausible. What does today’s nowcast indicate? 3.6%.
More By This Author:
Has American Economic Output Been In Decline Since 2022?Big Mac Nation And Recession Since 2022
Mid-October Reading On Business Cycle Indicators – NBER BCDC And Alternatives
How did you like this article? Let us know so we can better customize your reading experience.
Comments
Leave a comment to automatically be entered into
our contest to win a free Echo Show.
