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re: Often-touted Atlanta Fed GDPNow projection has some bad news for 3Q
Posted on 9/15/17 at 7:37 pm to AuburnTigers
Posted on 9/15/17 at 7:37 pm to AuburnTigers
quote:Goldman-Sachs revised it down by about 0.8%: Goldman-Sachs estimates
2 Historical Hurricanes just hit the United States and devastated cities
quote:So I think the extent of the Atlanta Fed's drop is more to do with an overly optimistic initial estimate.
"Given potentially sizeable growth effects from Harvey — and with Irma risks now moving to center stage — we are lowering our Q3 GDP tracking estimate by 0.8pp to +2.0 percent," Goldman wrote. "However, we expect this weakness to reverse over the subsequent three quarters, more than recouping the lost output."
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