The Economic Train πŸš‚ Decided To Deliver Our President With An Incredible Birthday πŸŽ‚ Gift 🎁 Today!

Folks the Economic Train πŸš‚ has decided to put forth more incredible data today on our President’s Birthday πŸŽ‚! There is absolutely nothing that is going to slow it down. Either get onboard or get run over at this point.

From the article linked above:

The U.S. Census Bureau said retail sales came in at $502.0 billion in May, a 0.8% monthly gain that doubled the consensus forecast.

From the article linked above:

U.S. retail sales in May far exceeded forecasts, rising by the most in six-months and signaling faster economic growth.

Overall retail sales rose 0.8% from the prior month, double the consensus economic estimate of 0.4%, according to Commerce Department data released Thursday. The prior month was revised up to 0.4%, indicating a stronger April than earlier data suggested.

The retail β€œcontrol group” sales, which excludes some of the more volatile numbers, rose 0.5%, which also exceeded forecasts.

The results likely reflect the high levels of consumer confidence, a very strong labor market, and lower taxes. The unexpected strength in the control group, which excludes gas stations sales, indicates that higher fuel prices have not stolen consumer demand from other sectors of the economy.

From the article linked above:

The Labor Department said jobless claims fell more than expected by 4,000 to 218,000 for the week ending June 9, easily beating the 225,000 forecast. The 4-week moving average was 224,250, a decrease of 1,250 from the previous week’s unrevised average of 225,500.

From the article linked above:

*Economic activity has been rising at a “solid” rate, the Fed’s statement said, marking an upgrade from “moderate” in the previous statement.

*The median real GDP forecast rose to 2.8 percent, up from 2.7 percent, for this year.

My opinion is that the Annual real GDP will easily exceed 3% for 2018! The Federal Reserve is going to be WRONG with their prediction!

*Policymakers also lowered their expectations for the unemployment rate.

Policymakers also lowered their expectations for the unemployment rate. The median projection for this year fell to 3.6%, down from 3.8%. For 2019 and 2020, the median expectation for the unemployment rate declined to 3.5%, from 3.6%.

3 thoughts on “The Economic Train πŸš‚ Decided To Deliver Our President With An Incredible Birthday πŸŽ‚ Gift 🎁 Today!

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