• 16 hours Citibank Analyst Predicts $300k Bitcoin By End Of 2021
  • 4 days Bitcoin Lives Up To Its Safe Haven Status In A Big Way
  • 4 days 14 Million People Will Lose Unemployment Benefits On December 31st
  • 6 days Why 12 Million American Millionaires Isn’t Good News
  • 7 days Big Oil Is Paying The Price For Investing In Renewables
  • 8 days The Banking Industry’s $35 Billion Gravy Train Could Disappear
  • 9 days Did Amazon Just Democratize Prescription Drugs?
  • 10 days The Private Space Race Just Got Very Real
  • 12 days Short Sellers Are Willing Big In This Turbulent Market
  • 13 days SpaceX Gets Go-Ahead To Send Humans Into Space
  • 14 days Saudi Arabia Lost $27 Billion In Oil Crash
  • 15 days China’s Big Tech Takes A Hit As Regulators Crack Down
  • 16 days Black Friday Could Be Retailers’ Only Hope
  • 17 days Why You Should Not Dump Your Stay At Home Stocks Just Yet
  • 18 days The Real Reason Why Uber And Lyft Stocks Have Soared Nearly 50%
  • 20 days Bitcoin Heads Towards $16,000 And No One’s Cashing In
  • 21 days Elon Musk’s $250 Tesla Tequila Is Already Sold Out
  • 22 days Will The San Francisco Wealth Tax Spark An Exodus Of The Rich?
  • 23 days The Fin-Tech IPO Of The Century Just Got Crushed
  • 24 days UK Bookies Report Largest-Ever Political Bet Ahead Of Election Results
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

GDPNow Forecast Sinks to 1.8% Following Advance Economic Indicators Reports

Today the Census Department released its first "Advance Economic Indicators Report". The new report adds wholesale and retail inventories to its existing International Trade in Goods report.

For details see Trade Deficit Widens as Imports Rise More Than Exports; Advance Economic Indicators Initial Release.

Following the report, the GDPNow Forecast dropped 0.5 percentage points to 1.8%.


Latest forecast: 1.8 percent - July 28, 2016

GDPNow 2016-07-26

The final GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2016 is 1.8 percent on July 28, down from 2.3 percent on July 27. After the U.S. Census Bureau's inaugural release of its advance economic indicators report, which covers retail and wholesale inventories and foreign trade in goods, the nowcast of the contribution of net exports to second-quarter real GDP growth declined from 0.17 percentage points to -0.10 percentage points and the nowcast of the contribution of inventory investment to growth declined from -0.63 percentage points to -0.79 percentage points.

That is the final DGPNow forecast for the second quarter.

The "Advance" BEA Gross Domestic Product, for 2nd quarter 2016 comes out tomorrow. The next GDPNow forecast will be for third quarter.

Note how lagging these BEA GDP reports are. The third quarter is nearly a third over and we will just now get data for the second quarter (and it will be revised again and again).

 

Back to homepage

Leave a comment

Leave a comment