Folks there is so much going on right now but I wanted to present a little good news. The Hurricanes, Democrats, Rhinos, CoC, Big Club, MSM, Globalist etc. are throwing the kitchen sink at the Economic Train yet it is continuing to pick up more steam as it plows along. We all know that Wall Street, S&P, NASDAQ numbers are at all time highs.
The Atlanta Federal Reserve about a month ago was predicting a 2.1% GDP for the 3rd quarter. Who could blame them given the Hurricane in Texas and Florida. However, yesterday they revised their projection from 2.3% to 2.7% and rising!
If the GDP for the 3rd quarter comes in at 2.8% or 3.0%, the MOAB of all MOABs will be dropped on D.C. The fact that the Economy continues to pick up speed with major roadblocks mean that there is nothing that will slow it down. Our LION has singlehandidly gotten our Economy to 3.0% on his own.
Once NAFTA is either renegotiated or thrown out, trade with China, South Korea etc is renegotiated, our GDP will be humming at 4% without a single policy that was passed by Congress. This is NOT a pipe dream! It is an absolute reality and it is killing them!
From the article linked above:
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2017 is 2.7 percent on October 2, up from 2.3 percent on September 29. The forecasts for third-quarter real consumer spending growth and third-quarter real private fixed investment growth increased from 1.8 percent and 0.3 percent, respectively, to 2.3 percent and 1.8 percent, respectively, after this morning’s construction spending release from the U.S. Census Bureau and this morning’s Manufacturing ISM Report On Business from the Institute for Supply Management (ISM).
The model’s estimate of the dynamic factor for September—normalized to have mean 0 and standard deviation 1 and used to forecast the yet-to-be released monthly GDP source data—increased from 0.04 to 1.59 after the ISM report.
Even Charles Payne from FBN Making Money realizes the Train is taking off!
From the article linked above;
The U.S. Census Bureau said Monday construction spending was estimated at a seasonally adjusted annual rate of $1,218.3 billion, a solid 0.5% (±1.3%) from July. The median economic forecast called for a 0.3% gain.
The August figure is 2.5% (±1.8%) above the August 2016 estimate of $1,189.1 billion. During the first 8 months of this year, construction spending amounted to $806.2 billion, 4.7% (±1.3%) above the $769.9 billion for the same period in 2016.
From the article linked above:
The Institute for Supply Management (ISM) manufacturing index (PMI) surged to 60.8 in September, beating the forecast for the fourth straight month. Only one industry, Furniture & Related Products, reported contraction in September compared to August, which came in at a reading of 58.8%.
The New Orders Index registered at 64.6%, a gain of 4.3 percentage points from the August reading of 60.3%. The Production Index, which has posted unusually strong results above 60 for the third time in 4 months, came in at 62.2%, a 1.2 percentage point increase compared to the August reading of 61%.
The Employment Index came in at a solid 60.3%, an increase of 0.4 percentage point from the August reading of 59.9%. The Supplier Deliveries Index increased 7.3 percentage points to 64.4%.