• 3 hours Trump Prepares For Another Key Tariff Decision
  • 7 hours The Free Money Bubble Is About To Burst
  • 1 day The Crushing Reality Of Poverty In America
  • 1 day Should You Buy Into The World’s Largest IPO?
  • 1 day The Infinite Possibilities Of Cosmic Energy
  • 2 days Analysts Link Walking To Economic Growth
  • 3 days Will Japan Turn Its Back On The Aramco IPO?
  • 4 days Global Debt Soars To $188 Trillion
  • 4 days The World's Largest Gold Miners Are Getting Creative
  • 5 days Twitter: The Saudi Spy Tool To Bring Down Dissidents
  • 5 days Broad Commodity Funds Don’t Give Enough Exposure To Gold
  • 6 days Here We Go Again: Another Giant Telecoms Mega-Merger
  • 6 days World's Largest Gold Miner Sees Profits Triple
  • 7 days Microsoft Japan Trials 4 Day Work Weeks, Productivity Soars By 40%
  • 7 days Hedge Funds Lose $4 Billion In Four Days As California Wildfires Rage On
  • 8 days New Viral App May Be A National Security Threat In Disguise
  • 8 days China's $10 Trillion Space Play
  • 8 days Human Energy: Debunking The Matrix
  • 9 days Cannabis Has Become A Real Estate Selling Point
  • 10 days The Gold Stock Boom Is Just Getting Started
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

Atlanta Fed Halves GDP Forecast to 0.6%; Blue Chip Consensus Eight Miles High

It's amusing watching all the GDP forecast downgrades in the wake of a huge string of bad economic data reports, one after another.

Following the retail sales report on March 12, the Atlanta Fed GDPNow forceast fell from 1.2 percent to 0.6 percent.

"The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2015 was 0.6 percent on March 12, down from 1.2 percent on March 6."

The Fed forgot to update their picture. It still looks like this.

Evolution of Atlanta Fed GDP Forecast


Blue Chip Consensus Eight Miles High

I am wondering what the "Blue Chip" forecasters are smoking. By any chance are they getting high off the glue in the string of recent jobs report?

To be fair, the "Blue Chip" forecast is as February 24, but by then the Fed Model had already been heading south.

Regardless, we are now at 0.6 percent and falling fast in the Fed model. The latest "Blue Chip" forecast is seemingly Eight Miles High.

This calls for a musical tribute.

Of course, there is one rational explanation for these estimates to be so wildly different: Weather Unexpectedly Much Worse Than Economists Previously Thought.

 

Back to homepage

Leave a comment

Leave a comment