Atlanta Fed upgrades U.S. first-quarter GDP growth view to above 5 percent

Reuters ^ | 02/01/2018 | Staff

[gubamyster]

NEW YORK (Reuters) - The U.S. economy is on track to grow at a 5.4 percent annualized rate in the first quarter following the latest data on manufacturing and construction spending, the Atlanta Federal Reserve’s GDPNow forecast model showed on Thursday.

The latest estimate on gross domestic product was faster than the 4.2 percent growth pace calculated on Monday, the Atlanta Fed said.

[pgkdan]

Can’t be true. Obama said growth higher than 2% is impossible. Are you asking me to believe that obama lied?

[C19fan]

Can’t remember the last time I saw 5% GDP growth.

[freedumb2003]

Ho
Ly
Crap!!!

Man, MAGA again!

[BenLurkin]

Do not want the economy to overheat.

[RoosterRedux]

Now that’s what I’m talking about!

[nopardons]

And NO WAY can this be because of policies that Obama had in place! :-)

[montag813]

Bonds getting DESTROYED by this news. The interest rate explosion is going to get UGLY.

[magua]

Trump took over a fixer up country. He got it for a song and now it’s paying dividends.

[Jeff Chandler]

Bonds getting DESTROYED by this news. The interest rate explosion is going to get UGLY.

The tariffs on imports will temper this.

[dynoman]

Wow. That means 2017 Q4 downward revision was crap.

[gubamyster]

That means 2017 Q4 downward revision was crap.

I am still perplexed by that Q4 number.

[Mr. K]

I predicted it months ago... the economy will hit 7% growth next year.

[mjp]

Free market economists knew that tax cuts, regulation cuts, and increasing the money supply by bringing back money from overseas would stimulate the economy

[taildragger]

Does anyone here remember me saying Team Trump is swinging for the "Green Monster" and put it over the wall aka IMHO they are going for 6 to 8%.

Think of all the "stuff" that hasn't kicked in to add to GDP...

* Getting rid of Dodd-Frank Bifrication of banking 1% GDP.
* All the exporting of Oil and LNG / CNG hasn't kicked in, the ports aren't done. % GDP? who knows.
* New rules for Road Construction reducing paperwork, .5% GDP.
* All the Drugs that could get fast tracked 4000 - 100 that got approved. % GDP ? who knows.
* The repatriation of Off Shore Trillions for Capital for Business to expand? Who knows.
* The Tax Cut, especially the 20% Corp Rate, one Fed said it was worth 1.3% in GDP.
* Obamacare gone... I hear that could be worth 1% GDP....

And that isn't including the Electric Car Revolution I see coming, and other paradigm changing technologies that will rock our world in the next 7 years of PDJT.

And that is off the top of my head, what else? What did I forget Freepers!

IN the words of Ronald Reagan, You ain't seen nothing yet.

[bigbob]

Trump is going to get 4% this year. 100%.

[Salvavida]

Someone troll the LA Times fish wrap for being wrong a usual.

[bert]

You left off the /s

[MGunny]

Holy SHE-ITE!!! Let’s see what the LSM says about that!

[Dan in Wichita]

The Democrat Party talking point is that Obama's economic policies are finally starting to kick in, despite Trump's best effort to screw everything up.

This will be trumpeted by the MSM and 47% of the people will believe it. Only 3.01% more to go, and they are looking good for the midterms and 2020.

We have our work cut out for us, folks.