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It's Official: Fed Sees 0.0% GDP Growth In The First Quarter
The Atlanta Fed's GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2015 has been downgraded once again... to 0.0 percent on April 1, down from 2.3 percent on Feb 13th.
Following this morning's construction spending release from the U.S. Census Bureau, the nowcast for real residential investment growth increased from -1.1 percent to 1.8 percent. This was more than offset by declines in the nowcasts for real nonresidential structures investment growth (-19.3 percent to -22.5 percent) and real state and local government spending growth (0.3 percent to -0.8 percent).
Not Pretty!
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I'm shocked!
The Federal Reserve Act of 1913 (de facto implemented in 1910) was the greatest, most evil, U.S CITIZENS/TAXPAYERS ARE FOOLS joke ever played on anyone collectively, all enabled by a bankster cabal that bought off CONgress, the Executive Branch & The Judicial Branch of our alleged Republican forming Democratic government.
The Fed has managed to get the economy growing again !! Bravo !!
Kerplunk!
So, it's a joke, isn't it?
I mean any part of the Fed telling the truth. That's the joke, right?
I'll never figure out this April Fool's stuff with the Fed being involved. They lie every other day of the year, so why not tell the truth on April 1?
I'ts easy, zero point zero is much more than nothing
To the moon Alice, youtube.com/watch?v=98qw86DsdZ0
and the rate raise... ya fucking right! planned implosion, possibly...
This is good for stocks. It means that there is no where left to go but up, up, up! Buy moar AAPL. Buy moar SPY. Buy moar DIA. As soon as the oceans turn to lemonade, which will be very soon, we will all be filthy rich.
Kerplooie!
Too bad too because they were this close to raising them, they were just about to do it they were prolly gonna do it tomorrow, but you can't blame them for not raising rates with these numbers, they have great credibility.
But are you both Shocked and Appalled?
Stocks off the lows and pms going down...makes sense
Re-calc inflation and GDP is contracting.
PCR and John Wiliams are all over this.
It's not a lie if you believe it.
Yellen Costanza
when will we officially have a recession? then depression?
Of course its their bat and ball so they can score it the way they want it
They used to call depressions "panics"
If a republicrat is elected to prz!
Good thing the market isn't the economy. Yes, extreme sarcasm.
when you die
one stops growing ...
Except for your fingernails and hair so I'm guessing there will be a chinese nail shop and Fantastic Sams at the pearly gates.
There are plenty of quarters left, and they own two of the referees.
I hear the old quarters are worth much more than the new quarters
But the good news is that today we're creating jobs in the oil rig fire extinguishing and oil slick cleanup sector, green shoots which should kickstart this recovery blah blah blah....
Really, that's the best figure they could come up with!
The true figure must be terrible.
So...
token .25 BP rate rise, followed by a resumption of QE in September?
it is a recovery. We need to raise rates. ROFL
Stocks going up with 0% GDP, that would be a miracle.
Yep. Rate hike in June - gone! Next up, just how many helicopters in the Fed fleet?
April Fools !!!
Gotcha, America!
plenty of time for it to go lower before first GDP guestimate at the end of april
march numbers to come out and revisions to priors
Oh give me a break: BULLISH!
GDP/profits/earnings haven't mattered for almost 7 years. Why would they start to matter now?
Atlanta Feds GDPNow model will soon go right down the memory hole.
Atlanta who ?
haha
(bloomberg) Atlanta Federal Reserve Bank today announced cost cutting measures that include discontinuing the GDPNow model ... and no longer providing after work Happy Hours
Going, going, gone.
Dems chance in 2016 if Obunghole takes us into recession.
Simply WRONG...Dems will take over the House and Senate, people are shortsighted fucks and will blame the R's...an R will become President though if we are in a recession...not that it matters anyway
so, what's that make the real number, -5?
if they break it, we own it.
Shouldn't they forget GDP?...I mean really they would be much more accurate "predicting" where the stock market would be...I am fairly certain they would 100% correct on that one. THANK GOODNESS GDP has nothing to do with the stock market...I mean who cares about revenue or effen profits!
The correlation between SP500 vs US debt is much more accurate.
No really, how do you spin going in to a recession (using your own FUBAR numbers) during your "green shoots" recovery if the "shadow" has passed? What's the excuse? Winter is over.
Winter gives way to Tornado and Sprng Storm season, followed by Summer Heat, followed by Hurricane season, followed by.... Winter Snow season. Why change what works?
And Mr. Blutarsky, Zero point Zero..
you're watching the bearing thesis crumble right before your eyes as rate increases get pushed out until late 2016
Last time a quarter was this dead in my business was 2012. The last two quarters of 2014 weren't exactly that hot either.
Is that plus or minus 0%?
So what is the real number then? -.5 to -1.1?
and the hits just keep coming
I have been saying since May 2013 when rates were ALLOWED to rise.
Unless financial breakdown is allowed, economy will continue its unstoppaple decline.
We ought to get on our knees and pray the financial system breaks down so the economy starts improving.
Wall Street goes or the USA goes. Simple choice.
Thank God for the Affordable Care Act boosting overall economic activity otherwise it would otherwise be in negative territory. /s
I've definitely noticed a slowdown in my business. My clients are now wanting to delay planned projects and are slow paying.
The only good thing is that whenever they try to do things for themselves instead of paying me to save some money. They end up paying me more than had they brought me in originally. I'm still down 33% gross over Q1 2014 though.
Baltic forecasted this sheeeeeit well in advance..
Ah hell, this is just an April Fool's joke - they will correct it tomorrow.
No April Fools: Propaganda circle complete, UK Prime Minister is related to Kim Kardashian
“real GDP growth… downgraded once again… to 0.0 percent”
Well, actually, even this 0.0% is bogus.
For many years, the GDP has included a few components that SUBTRACT from production.
They are 1) investment, plant and software (approx. 16% of GDP); and 2) government expenditures (approx. 19%).
For example, in the case of “investment”, whether for business or residential, the money borrowed for such undertakings has been withdrawn from the market place, and is no longer available for use by anyone else.
The resources (labor and raw materials) consumed by the “investment” have been withdrawn from the market place, and are no longer available for use by anyone else.
In each case, the money or resources are treated as an expenditure and booked as an asset (receivable or structure et cetera) with the understanding that it will be collected or expensed over a period of 5-30 years. If the investor is successful, he will realize profits and pay interest in each of those following years: It is then that the investment will add production to the overall economy.
If the investor fails, thru accident or ineptitude, all money and resources involved will be lost forever. The booking of the asset will then have to be reversed as a very big expense, or loss of capital. (Unless, that is, he can sell the "investment" to the Federal Reserve.)
In the case of government spending… well, enough of trifling matters.
The GDP, thus, is little more than a jumble of ingredients (various kinds of spending) thrown together to represent wishful thinking, of criminal and useless classes, as contributors to the nation’s economy. (See Confessions and Confusions of Treasury)