The Economic Train is not going to be stopped no matter what the Left, Democrats, MSM, RINOs, Globalist, CoC, Big Club etc. try to come up with to get our President! The Atlanta Federal Reserve just revised their forecast now predicting the 4th Quarter reaching 3.3%. It was at 2.9% on December 8th.
The NY Federal Reserve continues to forecast a 4th Quarter GDP of 3.9%. They will be revising their forecast tomorrow. Would not shock me one bit if the new forecast is over 4% GDP.
From the article linked above:
US retail sales rose 0.8% in Nov, vs 0.3% increase expected (THIS IS HUGE BECAUSE IT ACCOUNTS FOR A LARGE PORTION OF OUR GDP)
– U.S. retail sales increased more than expected in November.
– The holiday shopping season got off to a brisk start, pointing to sustained strength in the economy.
– The Commerce Department said on Thursday that retail sales rose 0.8 percent last month.
The Commerce Department said on Thursday that retail sales rose 0.8 percent last month. Data for October was revised to show sales gaining 0.5 percent instead of the previously reported 0.2 percent rise.
From the article linked above:
U.S. retail sales and food services surged 0.8% (±0.5%) to $492.7 billion in November from the previous month, and 5.8% (±0.7%) since November 2016. Advance estimates from the U.S. Census Bureau nearly tripled the 0.3% consensus forecast, undoubtedly lifting the outlook for consumer spending in the fourth quarter (4Q).
There was also a most-welcomed upward revision to the previous retail sales report in September.
Total sales for the September 2017 through November 2017 period were up 5.2% (±0.5%) from the same period a year ago. The September 2017 to October 2017 percent change was revised from up 0.2% (±0.5%)* to up 0.5% (±0.2%).
The retail sales report lifts the outlook for consumer spending, which in turn lifts the outlook for 4Q gross domestic product (GDP).
That last sentence above puts the BIGGEST smile on my face. That tells me that even the forecasts above are actually low balling what the final 4th Quarter GDP will end at. Beyond winning the election last year, I want nothing more than our President finishing his 1st year in Office with the final GDP being 3.0% for 2017! Barry from Kenya NEVER EVER had an annual GDP at 3%+ over his 8 years! I told my wife I don’t want anything for Christmas because I have my request in with SANTA!
What also makes it truly amazing is that the final annual GDP for 2016 was a MISERABLE 1.6%.
2017 GDP (Quarters 1 – 3 & what has to happen in 4th Quarter):
1st Quarter (Jan 1 – March 31) – Our final GDP was a miserable 1.4% since Barry was still in office for 20 days and our President began to implement his Energy Dominance and kill regulations.
2nd Quarter (April 1 – May 31) – Our final GDP was 3.1%.
3rd Quarter (June 1 – September 30) – Our revised GDP is 3.3% (We will see the final % on December 27th / I believe it will end at 3.4%).
That would mean with a 4th Quarter GDP of 4.1%, OUR PRESIDENT WILL ACCOMPLISH WHAT MANY CALLED THE IMPOSSIBLE:
1.4% + 3.1% + 3.4% + 4.1% = 3% GDP FOR 2017!