Trump Economy Runs, Atlanta Fed Raises GDP Growth View at 4.1%

Trump Economy Runs, Atlanta Fed Raises GDP Growth View at 4.1%

Trump Economy Runs, Atlanta Fed Raises GDP Growth View at 4.1%

The US economy is forecast to expand at a 4.1% annualized pace in the Q-2 following the release of April figures on housing starts and industrial output, the Atlanta Federal Reserve’s GDP Now forecast model showed  Tuesday.

Domestic factory production increased 1.0% last month for its biggest monthly gain in over 3 years, but housing starts unexpectedly fell 2.6%, government data showed Tuesday.

The latest Q-2 GDP (gross domestic product) estimate was faster than the 3.6% reading calculated on 12 May, the Atlanta Fed said on its website.

The latest estimate was a bit below the initial figure of 4.3% calculated by the Atlanta Fed model on 1 May.

The forecast of Q-2 residential investment growth rose to 8.3% from 6.0% following the latest housing starts data, the regional Fed said.

Its view on final sales to private purchasers growth in the second quarter increased to 3.6 from 3.3% following the April industrial output report.

Atlanta Fed’s estimate on the contribution of inventory investment to Q-2 GDP grew to 1.20 percentage points from 1.00 with motor vehicle and parts dealer inventories accounting for the bulk of the increase.

All of that and the senseless elites (Republicans and Democrats) Congress are shouting ‘Impeach President Trump’ Nutz, vote them out in the mid-terms is the Key to Making America Great Again.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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