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re: 1Q GDP projection holding steady at a vigorous 2.0%

Posted on 2/14/18 at 10:39 am to
Posted by Lou Pai
Member since Dec 2014
28103 posts
Posted on 2/14/18 at 10:39 am to
Pics or gtfo
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 2/14/18 at 10:40 am to
quote:

Pics or gtfo

it's in op, but here it is anyway

Posted by Lou Pai
Member since Dec 2014
28103 posts
Posted on 2/14/18 at 10:43 am to
o ya
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 2/16/18 at 9:47 am to
housing & import/export data in today, not surprises big enough to change from 3.2%
Posted by GumboPot
Member since Mar 2009
118683 posts
Posted on 2/16/18 at 9:53 am to
Why are we tracking the Atlanta Fed? Who are in the "consensus" and who has the best track record?
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 2/16/18 at 10:01 am to
quote:

Why are we tracking the Atlanta Fed?

As you know damn well, it was touted here all the time most of 2017. I like their historical chart, frequent updates, good explanations of those updates, although as I said the WSJ forecasting survey has been much better over that same time frame.

The NY Fed one has seemed mostly out to lunch, although last week's update is close to this one (they said 3.3%, but hadn't updated for the week at the time I bumped this thread). I'd have mentioned it before if it weren't 7 days old.

If you think this thread has no use, you can certainly contribute some commentary or some more projections, or see yourself out as well.
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 2/16/18 at 10:07 am to
I also wanted to point out that there was no shortage of threads & references covering when this projection was above 5%.

Goose, gander
This post was edited on 2/16/18 at 10:08 am
Posted by GumboPot
Member since Mar 2009
118683 posts
Posted on 2/16/18 at 10:14 am to
quote:

As you know damn well, it was touted here all the time most of 2017. I like their historical chart, frequent updates, good explanations of those updates, although as I said the WSJ forecasting survey has been much better over that same time frame.



I know why the Atlanta Fed was tracked in the past. I just wondering now why it's being tracked now and into the future.

Do you know of a consensus report where the data for each entity tracking is in a table format? That would probably be a better picture going forward.
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 2/16/18 at 10:34 am to
nope. i think centering on atl's is probably the best option available as long as others are kept in the discussion

ETA: speaking of which, NY just updated theirs from 3.3% to 3.1% LINK
This post was edited on 2/16/18 at 10:37 am
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 2/27/18 at 9:09 am to
With release of advance durables and advance economic indicators. See updated chart in OP

NY Fed still at 3.1%
WSJ (monthly) at 2.9%
STL Fed at 2.7%

This post was edited on 2/27/18 at 9:12 am
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 3/1/18 at 10:12 am to
bump for the big bounce in March!
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 3/7/18 at 9:18 am to
bump for projection based on new net exports, real consumer spending, and real nonresidential equipment investment figures

starting to look like a real chance this quarter isn't that great despite the new tax cuts
Posted by USA Dan
Spanish Fort, AL
Member since Jul 2015
978 posts
Posted on 3/7/18 at 9:47 am to
The jobs market is red hot right now.

American businesses added 235,000 jobs in February, ADP and Moody’s Analytics said Wednesday. January’s private sector payroll number was revised upward to 244,000 from the initial report of 234,000.

That was far more than the 195,000 expected by economists.

“The job market is red hot and threatens to overheat,” Mark Zandi, chief economist at Moody’s, said in a statement. “With government spending increases and tax cuts, growth is set to accelerate.”

The economy has added more than 200,000 jobs in seven out of the last 12 months, roughly the period in which President Trump has held office.

LINK /


This post was edited on 3/7/18 at 9:48 am
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 3/7/18 at 9:53 am to
quote:

The economy has added more than 200,000 jobs in seven out of the last 12 months

not all that great for being at the top of the business cycle

but it's still good

it has been interesting to me though for a while that we haven't been able to sustain annualized 3% growth for more than a few quarters (or 2% inflation), yet we're still worrying about "overheating"

eta: also thanks for polluting my thread with some breitbart trash
This post was edited on 3/7/18 at 9:54 am
Posted by USA Dan
Spanish Fort, AL
Member since Jul 2015
978 posts
Posted on 3/7/18 at 9:57 am to
quote:

eta: also thanks for polluting my thread with some breitbart trash


You're welcome

How about this one instead...

LINK
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 3/7/18 at 10:01 am to
oh i don't doubt the numbers

but i do think i might as well dust this one off:

Posted by Jyrdis
TD Premium Member Level III
Member since Aug 2015
12788 posts
Posted on 3/7/18 at 10:21 am to
quote:

He also notes that the relationship between labor market strength and inflation seems to have weakened over time, and argues that we will keep seeing lower inflation than we'd expect.


So, this means the Philip's curve isn't the typical short run Philip's curve we think about, but more or less moving on to a long run Philip's curve where unemployment and inflation don't depend on one another.

Can you explain the graph? If the Philip's curve has a slope of 0, then we would be free to do whatever we want to with the money supply as inflation would remain at some constant level.
Posted by Jyrdis
TD Premium Member Level III
Member since Aug 2015
12788 posts
Posted on 3/7/18 at 10:24 am to
quote:

not all that great for being at the top of the business cycle


This doesn't bother me as much. We are essentially at full employment. Diminishing returns has likely set in.
Posted by GumboPot
Member since Mar 2009
118683 posts
Posted on 3/7/18 at 10:26 am to
FWIW here are some additional predictions for 1Q18:

Trading Econmics: 2.2

WSJ: 2.9

New York Fed: 3.02
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 3/7/18 at 10:29 am to
quote:

If the Philip's curve has a slope of 0, then we would be free to do whatever we want to with the money supply as inflation would remain at some constant level

i was thinking about it more along the lines of: since the indicators aren't negatively tied together as they appeared to be for a long time now, which one do we lean on more as an indicator of where we are in the business cycle.

i mean we've been in the 4's for unemployment for a while now, but have still remained on the short side of the inflation target
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