Quick note here to update you on some of the macro data
I continue to be bullish on the near-term US economy. As I wrote this morning, the Q2 and Q3 GDP numbers are both showing more than 4% growth. And with the ISM Manufacturing data released today, the Q3 GDPNow tracker has pushed up to 4.7% from 4.1%.
Here's how the Atlanta Fed explains the change:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2018 is 4.7 percent on September 4, up from 4.1 percent on August 30... after this morning's construction spending report from the U.S. Census Bureau and this morning's Manufacturing ISM Report On Business from the Institute for Supply Management.
The consensus numbers for Q3 are still at 3.1%.
Why this matters: if GDP gro...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.