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July 14, 2018 | GDPNow vs Nowcast: Little Change From Week Ago, 3.9% vs 2.8%

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.
‘From a week ago, the GDP forecasts moved little on the economic news. Nowcast was unchanged. GDPNow rose 0.1 pp to 3.9%.

GDP Now Latest Forecast: 3.9% – July 11, 2018

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 3.9 percent on July 11, up from 3.8 percent on July 6. The nowcast of the contribution of inventory investment to second-quarter real GDP growth increased from 0.29 percentage points to 0.36 percentage points after this morning’s Producer Price Index release from the U.S. Bureau of Labor Statistics and this morning’s wholesale trade release from the U.S. Census Bureau.

Nowcast Latest Forecast: 2.8% РJuly 13, 2018

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It takes a mountain to budge Nowcast while GDPNow moves at whim. But both were quiet this week.

Mike “Mish” Shedlock

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July 14th, 2018

Posted In: Mish Talk

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