The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2015 was 0.6 percent on March 12, down from 1.2 percent on March 6.
The nowcast for first-quarter real consumption growth fell from 2.9 percent to 2.2 percent following this morning's retail sales release from the U.S. Census Bureau.
These comments of the Federal Reserve Bank of Atlanta are saying the economy is very weak. This is the reason commodities are tumbling. This is also bad news for employment and profits.
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George Dagnino, PhD
Editor
The Peter Dag Portfolio
Since 1977
The Peter Dag Portfolio
Since 1977
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