Thursday, May 04, 2017

GDPNow New Q2 '17 Prediction

Latest forecast: 4.2 percent — May 4, 2017

The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2017 is 4.2 percent on May 4, down from 4.3 percent on May 1. The forecast for second-quarter real consumer spending growth declined from 3.2 percent to 3.0 percent after yesterday's light vehicle sales release from the U.S. Bureau of Economic Analysis. The forecast of the contribution of inventory investment to second-quarter growth increased from 0.97 percentage points to 1.14 percentage points after this morning's manufacturing report from the U.S. Census Bureau.
Keep in mind the model is an evolution.  Until a few more datums are added to the mix the first bits are grossly overweighted.  My WAG is ~2.2% a bit lower than the "consensus" but because I see lower inflation not lower economic growth. 

28 comments:

Lawyerliz said...

What going on with the health care vote?

Rob Dawg said...

Passed House. Arm twisting in Senate. Will pass. Pelosi apoplectic.

EngineerJim said...

>Pelosi apoplectic.

The old fraud should retire.

Rob Dawg said...

Her constituents complain she is too moderate.
DiFi, Boxer (now Harris), Pelosi. Embarrassments.

Harris is serious dangerous evil.

EngineerJim said...

>Harris is serious dangerous evil.

Don't know much about her.
Haven't really heard her say anything yet.

Cinco-X said...

Sounds like satanic back-masked growling...

psychodave said...

[Rob Dawg] "Harris is serious dangerous evil"
Agree fully. Maybe for different reasons.

The only Democrat senator I've seen who doesn't foam at the mouth, show blatant dementia, and continuously project own weaknesses on others. She even hides her hostility well.

Easy to do a search "Kamala Harris" on C-Span. Open each hit in its own tab or window. Start the video, stop it, then search her name again. Click a hit and video takes you right to where she starts speaking. Worth a bit of time.

Rob Dawg said...

Kammi is scary smart. Scary clever. Scary focused. She possesses a level of certainty that allows her to ignore any obstacles like law or morality or ethics or tradition or democracy while pursuing goals.

Lawyerliz said...

I'm beginning to think I don't belong here.

Lawyerliz said...

So now Pelosi is bad because she's old and a woman. I never liked her much but this is something you should be ashamed to say. Maybe O was bad because he was black? You will be old sometime too, if you are lucky. What about Duckelworth. Is she bad cause she doesn't have legs?

Lawyerliz said...

Womenn should be beaten with a stick no bigger than your thumb.

Rob Dawg said...

Liz you misunderstand. Pelosi is "bad" because she she puts party and politics ahead of people. Harris is "bad" because she has a history of ignoring the rule of law in favor of agenda. There is no gender bias in these aspects.

IMHO Pelosi might also be getting too old to carry the minority chair but I admit that is just my view.

You should actually be pleased that both these strong leaders are being treated the same way any other occupant of those positions would be treated.

Lawyerliz said...

Why don't we concentrate on Trump and whether he'd favor a new glass Steagal?
Single payer is the way to go, but the conservative Repubs would never go for any thing so lohical. Insurance is a bad vehicle for health care. Yes, you don't insure a house burning down, but that really isn't an analogue for a person with a pre existing conditio

Cinco-X said...

Careful there... Have you seen the size of my thumbs?

Cinco-X said...

So is government... You should talk to my wife about the lousy care her relatives in Thailand get...

Rob Dawg said...

The best thing the US could do is fund a nationwide diagnostic health network for less than free. Less than free. Leave mantainence and repair to the for profit sectors.

Cinco-X said...

I'd prefer major medical for free... Anything over $50k...

EngineerJim said...

>Single payer is the way to go, but the conservative Repubs would never go for any thing so logical.

Agree, Single Payer is the way to go. However, Democrats had complete control of the house and senate in 2009, and yet didn't produce a Single Payer system. They came up with the Affordable Care Act all by themselves. Didn't really have anything to do with the Republicans.

Lawyerliz said...

We bought major medical when our daughter was in her early 20s
Reimburse stuff over 5k since we cold afford that. They sent a nurse to take blook and check her out.

EngineerJim said...

>Kammi is scary smart.

So, a definite improvement over Barbara Boxer.

Lawyerliz said...

Well the son made it home. There new house is high and dry

Lawyerliz said...

He didn't see any flooding

Lawyerliz said...

Yes he did. Flooded cornfield.

sm_landlord said...

OK, Folks: This is a real estate commercial:

https://vimeo.com/215759124

For a spec mansion in BH called "Opus".

sm_landlord said...

Here's the explanation:
http://www.cnbc.com/2017/05/04/real-estate-porn-meets-soft-porn-in-a-100-million-mansion.html

sm_landlord said...

Just Wow:

http://www.cnbc.com/2017/05/04/this-silicon-valley-teardown-just-sold-for-2-6-million.html

sm_landlord said...

Quote of the Day:

> "If you're an analyst, I think the only way to handle an Elon Musk conference call is to take some mind altering drugs so you can really tune in and turn on the whole psychedelic story."

--Jim Cramer

Rob Dawg said...

Even Cramer sees through the BS.

New post.