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| Economy |
| Nowcast by Atlanta Fed Reserve says Q2 had negative growth |
| 2022-07-02 |
| This is directly from the Fed Reserve - not a 'journalist', so it is technical The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2022 is -1.0 percent on June 30, down from 0.3 percent on June 27. After recent releases from the US Bureau of Economic Analysis and the US Census Bureau, the nowcasts of second-quarter real personal consumption expenditures growth and real gross private domestic investment growth decreased from 2.7 percent and -8.1 percent, respectively, to 1.7 percent and -13.2 percent, respectively, while the nowcast of the contribution of the change in real net exports to second-quarter GDP growth increased from -0.11 percentage points to 0.35 percentage points |
| Posted by:Lord Garth |
| #2 Unfortunately, you ain't seen nothin' yet. The hope here is that the Fed will stick to its anti-inflation guns and not wimp out as it did throughout the early- and mid-70s, which only makes the inevitable solution much more painful. |
| Posted by: Tom 2022-07-02 15:19 |
| #1 "However, the Atlanta Fed’s GDPNow measure, which tracks economic data in real time and adjusts continuously, sees second-quarter output contracting by 2.1%. Coupled with the first-quarter’s decline of 1.6%, that would fit the technical definition of recession." https://www.cnbc.com/2022/07/01/atlanta-fed-gdp-tracker-shows-the-us-economy-is-likely-in-a-recession.html |
| Posted by: NoMoreBS 2022-07-02 12:21 |