Posted on 03/25/2015 5:01:52 PM PDT by Perdogg
From almost 2.5% GDP growth expectations in February, The Atlanta Fed's GDPNow model has now collapsed its estimates of Q1 GDP growth to just 0.2% - plunging from +1.4% just 2 weeks ago. The reality of plunging capex and no decoupling is starting to rear its ugly head in the hard data and as the sun warms things up, weather will start to lose its ability to sway sentiment. While sell-side consensus has dropped (Goldman, Morgan Stanley, and Barclays all cut today following Durable goods), it remains unable to quite accept the reality of massively weaker than expected macro data evident everywhere (except in the soft-survey PMI data).
(Excerpt) Read more at zerohedge.com ...
Frightening just to think if they used the GDP calculations of 10 years ago, the figures would be screaming DEPRESSION!!!!!
^ This + 1 Exactly
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