GDP growth surprises at 3.2% in first quarter; economists question sustainability
The U.S. economy grew at a 3.2% real rate in the first quarter. That's substantially stronger than the 2.2% growth in the fourth quarter and way above projections for 1.9% growth among economists surveyed by Briefing.com. Inflation remained very subdued with the GDP...
Durables orders good for stocks and economy
Orders for durable goods rose 0.4% in January, the Census Bureau reported this morning. Economists surveyed by Briefing.com had projected a 0.6% decrease. Ex-transportation new orders, which means excluding volatile aircraft orders (for January remember and therefore...
GDP grows at annualized 3.5% in third quarter, but…
Real GDP (that is GDP discounting any gains from inflation) increased at an annualized rate of 3.5% in the third quarter. Economists surveyed by Briefing.com were looking for 3.3% growth rate. In the second quarter GDP grew at an annualized rate of 4.2%. Big driver in...
Will 2nd quarter GDP report on Friday deliver convincing “good as it gets” message?
Wall Street and economists and the Trump administration and investors are expecting big good news in Friday's first report of second quarter GDP growth. Economists surveyed by Briefing.com projected 4.1% year over year growth for the quarter that ended in June. It's...
Second quarter GDP forecasts start to come back to earth
Not so long ago major economic forecasts such as the GDPNow forecast from the Atlanta Federal Reserve Bank were calling for second quarter U.S. GDP to grow at an annual rate of better than 4%. That was extraordinarily strong growth and it fit in with forecasts from...
Heady expectations for 4% second quarter GDP growth make lower first quarter revision irrelevant
The third revision for first quarter GDP, announced this morning, continued the pattern of lower growth with each update. The third revision showed annual GDP growth in the first quarter slowing to 2.0% from a prior 2.2%. Financial markets ordinarily don't care much...
Will GDP data take over market sentiment Friday?
The Bureau of Economic Analysis releases the first take on economic growth in the first quarter of 2018 tomorrow at 8:30 a.m. New York time. So by the time the financial markets open in New York, investors and traders will have had a chance to absorb the report and decide how they feel about it.Economists surveyed by Briefing.com are looking for the growth rate to drop to 2.1% for the quarter. That would be down from 2.9% in the fourth quarter of 2017 and from 2.3% for all of 2017.
Trick or Trend: Will shutdown overshadow earnings and fourth quarter GDP this week?
Before Washington and the government shutdown stole all the headlines, the U.S. stock market was whipping up a good deal of enthusiasm about reports of fourth quarter earnings. Because the Securities & Exchange Commission gives companies more time to file end of the year annual financial reports than run of the mill quarterly reports, earnings season for the fourth quarter is especially drawn out, but we still get some important bellwether reports this week
So how strong is the economy–really?
The economic data this morning paint contradictory pictures on the strength of the U.S. economy. On the one hand GDP in the third quarter grew at a better than expected 3% annual rate. On the other hand, Â real final sales to domestic purchasers, which strips out the effect of trade and inventories, the two most volatile components of the GDP figures, grew at only a 1.8% rate. That’s the slowest rate since early 2016.
What happened in the markets (and economy) last week–and what it means for August and September
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Q2 GDP growth worse than hoped but better than it was last quarter
The first reading on second quarter U.S. GDP growth from the Bureau of Economic Analysis puts growth at 2.6% year over year. That’s below the consensus of 2.8% growth among economists surveyed by Briefing.com. But an important advance from the growth rate in the first quarter, which was revised downward to 1.2% from 1.4%.
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