Skip to comments.Atlanta Fed Boosts Second Quarter GDP Forecast to 4.8%
Posted on 06/01/2018 6:59:41 PM PDT by Enlightened1
The U.S. economy is expanding at a 4.8 percent annualized rate in the second quarter, the Atlanta Federal Reserves GDPNow forecast model showed on Friday.
The forecast has been climbing higher following the release of a series of good economic data. On May 25, the measure foresaw four percent GDP growth. This rose to 4.7 percent Thursday and ticked even higher on Friday following the better than expected jobs report for May.
The Atlanta Fed forecasts a big boost in private sector fixed investment, which includes capital investment in machinery, land, buildings, vehicles, and technology. Earlier, the Atlanta Fed saw this growing at 4.6 percent. But following the release Friday of a construction spending report from the U.S. Census Bureau and the Manufacturing ISM Report On Business from the Institute for Supply Management, this was upgraded to 5.4 percent growth.
Consumer spending is expected to grow at a 4.6 percent rate, up from 3.4 percent prior to the Friday data releases.
The New York Feds Nowcast also rose Friday, to 3.5 percent from 3.0 percent a week ago.
(Excerpt) Read more at breitbart.com ...
Remember this question in 2016?
Go to the 2 minute and 50 second mark of this video where Obama mocks canidate Trump'
Wow. Read it and weep, Obama.
Good one....... how wrong he was (and still is)
This is incredible folks. I thought we had the potential, but never expected to see anything close to 5%. That is a very nice Trump bump and he is just getting started!
Didn’t this same Fed group that said Quarter 1 was going to be 5%? Off by more than half.
Obama said that we would NEVER see 2%growth again in our lifetimes, that those days for America were over.
No I never heard that from the Atalanta Fed?
This is the highest I have ever heard from a Fed in my life time.
You pulled my thoughts right out of my head.
Same here! Breaking 4% marker is still huge!
Yes actually. Atlanta Fed projected a 5.4% growth rate for the first quarter.
Didn’t Obama say the the US would never again have a GDP higher than 3%?
Think it was 2% but hey even if 3% POTUS still did it?
Actually I think it was the WSJ Editor James Taranto that said 2%
Nevertheless, we win either way.
You mean like this.
Atlanta Fed Sees GDP Rocketing To 5.4% In First Quarter (Trumps’s Economy)
Actual for 1Q18 is 2.2%.
The 4Q17 GDPNow forecast opened at 4.7% ended at 3.4%. Actual was 2.9%.
It’d be great if this happens, but I think the Atlanta Fed made a similar optimistic forecast earlier that did not come about. I’d be thrilled with 3.5% GDP growth.
DJT, abracadabra bitch!
This figure I could believe. I’ve been telling everybody for 6 months things have been picking up bigtime.
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