GDPNow still near 4%, showing Q2 likely to be a monster quarter

Editor's Note: This post was originally published on 2 July 2018 on Patreon.

The latest revision to the GDPNow tracker came in at 4.1% growth today. With Q2 now over, we are going to get just a few more data points before the first GDP growth estimate is released at the end of the month. I continue to believe we will see the numbers well above 3% in real terms. And the forward looking indicators suggest this momentum will continue well into the future.
Support for growth from personal outlays looks good
At its core, real GDP is about consumption because that counts for two-thirds of GDP and because income and consumption drive investment over the longer term. The personal outlay numbers released on Friday were good. Personal outlay growth is rising modestly. And nothing on the horizon...

As this site is now reader-supported via Patreon, the remainder of this article is only available to subscribers at a specific patronage level. Articles at patronage levels BRONZE, SILVER, and GOLD are denoted by the categories in blue capital letters above the post. Posts categorized DAILY are available to both SILVER and GOLD patrons.

Click here to join. Your readership is greatly appreciated!

Registered users can log in by entering details here or below.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More