More RealBadNews about the economy, itz tanking hard…..GDPNow tracker is heading down the toilet

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In July the CNBC consenus forecast median was a massive 8%!! What iz this, the Second Great Depression or something?

Latest estimate: 1.3 percent — October 5, 2021

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2021 is 1.3 percent on October 5, down from 2.3 percent on October 1. After recent releases from the US Bureau of Economic Analysis, the US Census Bureau, and the Institute for Supply Management, the nowcasts of third-quarter real personal consumption expenditures growth and third-quarter real gross private domestic investment growth decreased from 1.4 percent and 12.9 percent, respectively, to 1.1 percent and 10.5 percent, respectively, while the nowcast of the contribution of the change in real net exports to third-quarter real GDP growth decreased from -1.27 percentage points to -1.57 percentage points.


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h/t mark000

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