Thanks to the "pulling forward" of future production in the channel-stuffing-based inventory build of Q3 [6], consensus estimates for the growth of the US GDP in Q4 2013 has collapsed to new lows for this cycle at a mere 1.5%. However, the "escape-velocity" recovery remains just around the corner as estimates for Q1 and Q2 2014 remain unimpacted by such nuance as reality...
Consensus GDP hits new lows for Q4 2013 - but 2014 will be just fine...
[7]
...just like 2013 was supposed to be in 2012...AND 2011... AND 2010...
[8]
Chart: Bloomberg and Deutsche Bank