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
Recommended
Record-setting, even:
Economic numbers that would break the previous record of GDP growth in a quarter would be amazing news just before November 3rd. https://t.co/Jek6qsJMTI
— Dan K. Eberhart (@DanKEberhart) August 5, 2020
The S&P 500 closed on Friday at 3363.90:
Goldman Sachs is predicting the S&P 500 will hit 3,600 if markets price in it 'more optimistic US GDP forecast' https://t.co/oeSlmAlh5y
— Business Insider (@businessinsider) August 14, 2020
And things are looking up for 2021 as well:
Goldman Sachs lifts 2021 US GDP forecast to 6.2% and predicts a COVID-19 vaccine will be 'widely distributed' by mid-2021 https://t.co/2F1YUMB9Jw
— Business Insider (@businessinsider) August 10, 2020
***
Join the conversation as a VIP Member