There's a 'big bada boom big' October surprise on the way 'that Democrats do not understand'

Greg P. | 7:49 AM on August 15, 2020

Dems, gird your loins, because awesome economic news is being forecast for the 3rd quarter:

Trump said, and I quote, “you’re going to have a 3rd quarter the likes of which no one’s ever seen before.”

He got that right. Our GDP contracted by a full third.

— Bryan Behar (@bryanbehar) July 31, 2020

But don’t believe Donald Trump. Here’s Goldman Sachs on the estimate:

Goldman Sachs boosted Q3 GDP tracking estimate by 1.3vpp to +26.5% (qoq ar). Also boosted our past-quarter GDP tracking for Q2 by two tenths to -34.6%, compared to -32.9% as reported in the advance release.

— David Wessel (@davidmwessel) August 14, 2020

This is because “better-than-expected retail sales and manufacturing productions data”:

GOLDMAN SACHS: "Following the better-than-expected retail sales and manufacturing production data, we boosted our Q3 GDP tracking estimate by 1.3pp to +26.5% (qoq ar)."

— James Pethokoukis (@JimPethokoukis) August 14, 2020

And Dems “do not understand” just how big this GDP number is going to be:

I am starting to get the sense that Democrats do not understand that the Q3 GDP report may well be a big number. As in " big bada boom" big. Is this not widely known?

— James Pethokoukis (@JimPethokoukis) August 14, 2020

“Big bada boom big”:

United States 3rd Quarter GDP could recover 18-25% according to the estimates. pic.twitter.com/T1jBLYbXB6

— Daniel Lacalle (@dlacalle_IA) August 1, 2020