US economic update!

https://www.cnbc.com/2019/05/15/atlanta-fed-forecast-for-gdp-growth-sliding-rate-cut-chances-surging.html

Atlanta Fed is one of the Fed banks which is tasked to provide the US GDP analysis and forecast.  For your information, every Fed bank is tasked to do something for the government.

Atlanta Fed is forecasting a weak economic growth and has cut the GDP growth from 3.2% to 1.1%.  This 2/3 cut has vindicated our previous analysis about the 1st QTR GDP below.

http://sg-stock.blogspot.com/2019/04/the-us-economy-is-going-downhill.html

We had already predicted weak GDP growth in the 2nd QTR in our PMI post on 2 May 2019 because we were skeptical about the putative 1st QTR GDP number.

http://sg-stock.blogspot.com/2019/05/us-ism-manufacturing-pmi-fell-in-april.html

The 1st QTR GDP growth of 3.2% was propped up by a sharp decline in imports and an increase in inventory buildup which was caused by weak retail sales and weak durable goods orders.

http://sg-stock.blogspot.com/2019/04/the-us-economy-has-flipped-and-fissures.html