ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
September 24, 2015 | 3rd Quarter GDP Now Forecast Ticks Down to 1.4%
Mike 'Mish' Shedlock
Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
The Atlanta Fed GDPNow Forecastmodel ticked slightly lower today following recent economic reports.The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2015 is 1.4 percent on September 24, down slightly from 1.5 percent on September 17. The decline occurred on Monday when the model’s forecast for third-quarter real residential investment growth fell in response to the existing home sales release from the National Association of Realtors.
I thought today’s Durable Goods report (see Orders Decline 2%, Led by Transportation; QE Bounce Effect is Over; Recession on the Way?) would have knocked a tick or two off the model forecast, but it was actually existing home sales that did it.
Mike “Mish” Shedlock
STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the HoweStreet.com Weekly Recap.
Mike 'Mish' Shedlock September 24th, 2015
Posted In: Mish Talk
Next: A Tory Harvest »