SPSM - Strong U.S. GDP Rise For Q2 Derails Recession Forecasts... Again
2024-07-26 11:42:00 ET
Summary
- The recessionistas are now forced to look to the third quarter as the earliest start date for an economic downturn in the US.
- US economic activity rose 2.8% in Q2, well above the consensus forecast and CapitalSpectator.com’s final nowcast for the previous quarter.
- A certain segment of the economics community will remain undaunted in predicting that a recession is near.
The recessionistas are now forced to look to the third quarter as the earliest start date for an economic downturn in the US. The odds have been low recently that Q2 would mark the beginning of an NBER-defined contraction and yesterday’s stronger-than-expected rise in output for the April-through-June period seals the deal....
Strong U.S. GDP Rise For Q2 Derails Recession Forecasts... Again