Q2 GDP Forecasts: Probably Around 30% Annual Rate Decline

The NY Fed Nowcast and Atlanta Fed GDPNow models are based on released data and aren't capturing the entire collapse in the economy .  These models will catch up as more data is released.  All forecasts, including the Merrill Lynch and other forecasts, are for the seasonally adjust annual rate (SAAR) of decline. From Merrill Lynch: We expect a 30% qoq saar decline in 2Q . Following the 1Q GDP report, our forecast for annual GDP growth this year was adjusted to -5.6%. [SAAR May 1 estimate] emphasis added From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/3bVJhru
via IFTTT