Latest estimate: GDP -2.1 percent — July 1, 2022

[excalibur]

Holy hell, Biden Blunders Back Better.

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2022 is -2.1 percent on July 1, down from -1.0 percent on June 30. After this morning's Manufacturing ISM Report On Business from the Institute for Supply Management and the construction report from the US Census Bureau, the nowcasts of second-quarter real personal consumption expenditures growth and real gross private domestic investment growth decreased from 1.7 percent and -13.2 percent, respectively, to 0.8 percent and -15.2 percent, respectively.​

GDPNow

Provides a

www.atlantafed.org

 

[johngaltshrugged]

Haven't you heard? Our economy has never been stronger & people have total faith it's just going to get better. There is no inflation & we are better off than anyplace else in the world.
If you buy that, I've got soft brown gold for sale too.

I said yesterday when the Atlanta Fed sent a twit that forecasted a -1.0% Q2 GDP that it would be worse.
Looks like they were only off by 110% which is pretty good for govt work.

 

[TroglocratsRdumb]

This the economic magic of the "Liberal World Order"

 

[otto105]

Holy hell, Biden Blunders Back Better.

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2022 is -2.1 percent on July 1, down from -1.0 percent on June 30. After this morning's Manufacturing ISM Report On Business from the Institute for Supply Management and the construction report from the US Census Bureau, the nowcasts of second-quarter real personal consumption expenditures growth and real gross private domestic investment growth decreased from 1.7 percent and -13.2 percent, respectively, to 0.8 percent and -15.2 percent, respectively.​

GDPNow

Provides a

www.atlantafed.org

I'll wait for the actual number not some model.

 

[jwoodie]

I'll wait for the actual number not some model.

Good for you. Any other words of wisdom?

 

[otto105]

Good for you. Any other words of wisdom?

You should too.

 

[1srelluc]

You should too.

They are just getting you ready for yet another dose of Tater Fail so it will go down easier for ya.

 

[Cougarbear]

I'll wait for the actual number not some model.

Oh, okay. You just do that...

 

[DigitalDrifter]

There is simply no good news about anything in this country right now. I've never felt this pessimistic about the state of things.

 

[Cougarbear]

There is simply no good news about anything in this country right now. I've never felt this pessimistic about the state of things.

The polls are showing this too.

 

[1srelluc]

There is simply no good news about anything in this country right now. I've never felt this pessimistic about the state of things.

I was trying to raise a young family in the 70s and I would suspect it would be much worse today. I doubt I could afford a home simply because they don't build "starter homes" anymore.....Even in adjusted dollars I could not really afford what my first home is selling for now.....It's crazy.

We are getting hit from every angle. The feds are just part of the problem, states and localities are not much better. Odious permits/taxes on everything you go to do/buy. They can't get enough of our money but still cry poor mouth because they give it to deadbeats.

Unless there is a revolution (soft or hard) the middle class will be gone in 20 years if not sooner.....I'll be well on my way out by then or already gone so you youngins better get hot unless you like soviet style living.

 

[jwoodie]

The feds are just part of the problem, states and localities are not much better. Odious permits/taxes on everything you go to do/buy.

The new strategy is to raise fees on government services that were supposed to be funded with tax revenues.