Decent Data
07/30/2014 | | 2014 GDP, Economic forecasting, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, GDP, Graphsandlaughs, MLS, Multiple listing service, Public speaking economist, Q1, Q2, econ70, economist on TV, economist on radio, eisenberg and economics, funniest economist, funny housing economist, graphsandlaughs and eisenberg, housing sales, mortgage banking, politics and economics, www.econ70.com
Today’s Q2 GDP estimate came in at 4%, better than expected. Moreover, the dismal -2.9% estimate of Q1 GDP was revised up to -2.1%. As for the underlying components, consumer spending increased at a 2.5% annualized rate, which is solid, and housing grew, which beats the shrinking it’s been doing for the last six months! 2014 GDP should now reach 1.8%, not the 1.375% previously expected. Reasonably decent news.