Folks the Economic Train could careless about what is going on around the world. It has taken off and promises to make 2018 even better than 2017. The Atlanta Federal Reserve just moved their 4th Quarter GDP prediction from 2.8% to 3.2%.
You will see two tweets below that say that the Atlanta Federal Reserve is way off in their prediction. They are seeing a 4th Quarter coming in closer to 5% GDP. If we pop a number close to 5% for the 4th Quarter, we have every chance in the world for the annual GDP for 2017 to reach 3%. Something Barry from Kenya wasn’t able to accomplish in his 8 MISERABLE years.
Construction spending is beating estimates. Our Manufacturing Index is at a 14 year high. Of the 18 manufacturing industries, 16 reported growth in December. Take a look at what these industries have to say about 2018 and beyond. MAGAnomics is taking hold across our Great Country once again.
From the article linked above:
The Institute for Supply Management (ISM) manufacturing index (PMI) easily beat the median forecast rising 1.5 points to 59.7 in December, with new orders hitting a 14-year high. New orders also posted their seventh straight reading above 60 reading and nearly broke 70 at 69.4.
“Our business is moving higher into the new year. Increased sales are resulting in increased purchases of CapEx and raw materials.” (Chemical Products)
“Strong international sales — Europe and Australia — versus last two years. U.S. sales continue to grow. Seeing commodity pricing pressures.” (Machinery)
“We are seeing a ramp-up with companies releasing early 2018 spend now.” (Computer & Electronic Products)
“Business conditions are good; we are tracking well to our projections for the year.” (Miscellaneous Manufacturing)
“First quarter 2018 probably will be better than the fourth quarter 2017.” (Fabricated Metal Products)
“Domestic and international sales on the rise.” (Transportation Equipment)
“Economy [is] strong and business is strong, yet signals of headwinds in 2018 are persistent.” (Food, Beverage & Tobacco Products)
“All suppliers are reporting strong business activity and difficulties obtaining qualified employees.” (Paper Products)
“Demand at this time is strong in the construction part of our business. I think it is due to the impact of the hurricanes and the rebuild and new construction that is required.” (Plastics & Rubber Products)
From the article linked above:
Construction spending during November 2017 was estimated at a seasonally adjusted annual rate of $1,257.0 billion, 0.8% (±1.2%)* above the revised October estimate of $1,247.1 billion. The U.S. Census Bureau report shows across-the-board strength in both private and public construction spending.
Economists had pegged the range from a low of -0.3% to a high of 0.8%, with the median forecast 0.6%.
The November figure is 2.4% (±1.5%) above the November 2016 estimate of $1,227.0 billion. During the first eleven months of this year, construction spending amounted to $1,138.3 billion, 4.2% (±1.0%) above the $1,091.9 billion for the same period in 2016.