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

Posted on 3/16/18 at 11:22 am to
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 3/16/18 at 11:22 am to
no, agree that it's not out of line with recent trend.

of course, i had been thinking that the tax cuts would cause a temporary (stronger) break from the recent trend, and that it should be showing up quickly. definitely within the quarter. and that being on top of the fact that we appear to be nearing the top of the business cycle anyway.

starting to look like my expectations for the year are significantly high, but it is possible that BEA is STILL dealing with seasonality-adjusting issues for 1Q
This post was edited on 3/16/18 at 11:23 am
Posted by NC_Tigah
Carolinas
Member since Sep 2003
123782 posts
Posted on 3/16/18 at 11:31 am to
quote:

Will update numbers here as ATL Fed revises projections.
Then you'll be updating often. Just so you'll know, the Atl Fed models need work. They are historically awful ( LINK). They are all over the place. I believe their projections immediately prior to this one were for >5% growth. Has any other group been as high, or as low this year? Much less back-to-back?
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 3/16/18 at 12:39 pm to
doubt we can see "end uses" already. but i did see this a few weeks back:

quote:

13% of companies' tax cut savings will go to pay raises, bonuses and employee benefits, according to a survey of Morgan Stanley analysts released Thursday. 43% will go to investors in the form of stock buybacks and dividends, the analysts predict.

LINK

Posted by MastrShake
SoCal
Member since Nov 2008
7281 posts
Posted on 3/16/18 at 1:20 pm to
quote:

Just so you'll know, the Atl Fed models need work. They are historically awful
and yet all the usual dullards here got their trumpy bears and maga hats and jacked off to it when it was at 5

Atlanta Fed upgrades U.S. first-quarter GDP growth view to above 5 percent

GDP growth for 1Q expected to hit 5.4%
Posted by DallasTiger11
Los Angeles
Member since Mar 2004
11804 posts
Posted on 3/16/18 at 1:27 pm to
quote:

and yet all the usual dullards here got their trumpy bears and maga hats and jacked off to it when it was at 5

No shite they did. If GDP actually started to hit in the 5's y'all are so fricked.

Sub 2 would be a hell of a disappointment.
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 3/23/18 at 12:44 pm to
private inventories & residential investment slightly lower than projected, projection drops ever so slightly to just below 1.8% real for the quarter

maybe that big omnibus will stimulate some more deficit-financed activity though

Posted by WildTchoupitoulas
Member since Jan 2010
44071 posts
Posted on 3/23/18 at 1:31 pm to
quote:

He also notes that the relationship between labor market strength and inflation seems to have weakened over time

Uncle Milty called. He said, "Duh."
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 3/29/18 at 9:32 am to
3/29 update climbs to 2.4% on higher inventory investment in wholesale & retail

wsj's panel of forecasters has called 2.5% for most of the quarter
ny fed's nowcast at 2.9



This post was edited on 3/29/18 at 9:35 am
Posted by Quaker
Member since Mar 2018
304 posts
Posted on 3/29/18 at 9:35 am to
Appreciate the updates and your input.
Posted by GumboPot
Member since Mar 2009
118683 posts
Posted on 3/29/18 at 9:41 am to
quote:

1Q GDP projection soars to a revised 2.4%,
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 3/29/18 at 9:43 am to
you like that?
Posted by Seldom Seen
Member since Feb 2016
39990 posts
Posted on 3/29/18 at 9:43 am to
If they're saying its 2.4% its probably really 4.2%.
Posted by buckeye_vol
Member since Jul 2014
35236 posts
Posted on 3/29/18 at 9:49 am to
quote:

If they're saying its 2.4% its probably really 4.2%.
Well since they were saying 1.8% which was really 8.1% then that’s a dramatic decrease. Right?
Posted by GumboPot
Member since Mar 2009
118683 posts
Posted on 3/29/18 at 9:50 am to
quote:

you like that?


With talk like that you will be offered a coat shortly.
This post was edited on 3/29/18 at 10:00 am
Posted by GumboPot
Member since Mar 2009
118683 posts
Posted on 3/29/18 at 9:58 am to
quote:

If they're saying its 2.4% its probably really 4.2%.



You know you are not far off.

For example the initial 4Q17 “current-dollar” GDP was reported as 5.3%. That number got adjusted downward to 2.9% due to inflation based on 2009 dollars.

That would be like you earning $100,000 last year and $105,300 this year. That is a 5.3% increase to you, however adjusted for inflation your “real” earnings are $102,900.

Too bad the federal government doesn’t allow you to pay taxes on “real” earnings.
This post was edited on 3/29/18 at 10:02 am
Posted by NC_Tigah
Carolinas
Member since Sep 2003
123782 posts
Posted on 3/29/18 at 12:37 pm to
quote:

1Q GDP projection soars to a revised 2.4%, per ATL Fed
The ATL Fed models are a mess.
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 3/29/18 at 12:40 pm to
they started the quarter off implausibly high, steadily went downward over the quarter (and probably a good bit too far down), now they're pretty close to the rest at this point

stl fed's nowcast is at something like 3.75 fwiw, that's the highest i've seen

i saw that oxford economics has high 1's, and iirc moody's is low 2's as of this week's releases

Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 4/2/18 at 10:37 am to
another bump up after ISM report on manufacturing: 2.8

Posted by doubleb
Baton Rouge
Member since Aug 2006
35911 posts
Posted on 4/2/18 at 10:49 am to
Is it true that the Atlanta Fed made up of a bunch of ex-Weather Channel employees?

Corrected by popular request
This post was edited on 4/2/18 at 11:38 am
Posted by LSURussian
Member since Feb 2005
126962 posts
Posted on 4/2/18 at 11:15 am to
quote:

Is it true that the Atlantic Fed
There is no Atlantic Fed.
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