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.
Latest posts by HEFFX Australia (see all)
- Tesla (NASDAQ:TSLA) Lost Around $50 Billion on Battery Day - September 23, 2020
- Amazon (NASDAQ:AMZN) Recent Pullback Created an Attractive “Entry Point” - September 23, 2020
- Should You Invest in Apple (NASDAQ:AAPL) Stock? - September 23, 2020