Another Day, Another GDP Downgrade

Is it me of is there a large firm downgrading second half GDP estimates literally every few days lately?

Goldman just cut their GDP outlook for the second time in a month at the end of last week.  Their call flew in the face of the risk-on resurgence in stock and commodity markets we witnessed headed into Labor Day.

So what does the Squid see going forward?  Here’s Colin Barr at Fortune:

… economists at Goldman Sachs last week cut their economic growth forecast for the second time in a month, only to warn a few days later that “we already see downside risk to that estimate.”

Goldman now sees the U.S. economy struggling to limp forth at a 3% pace in the second quarter, down from 3.5% just three weeks ago and 4% at the start of the year. The firm expects the economy to have added just 150,000 jobs in April – down from 244,000 in March and well below the 178,000 CNNMoney forecast.

Is deceleration at this point in the cycle to be expected?  The bat-out-of-hell rebound in the data from 2009 surely couldn’t have been expected to last forever.  Let’s see who else comes out of the woodwork with downward revisions and hope the Double-Dip crowd can keep it’s pants on until the evidence actually shows up.

Source:

Goldman downgrades U.S. growth again (Fortune)

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers

Please see disclosures here.

What's been said:

Discussions found on the web
  1. old facebook commented on Sep 25

    … [Trackback]

    […] Find More on that Topic: thereformedbroker.com/2011/05/31/another-day-another-gdp-downgrade/ […]

  2. bitcoin evolution review commented on Oct 03

    … [Trackback]

    […] Read More on to that Topic: thereformedbroker.com/2011/05/31/another-day-another-gdp-downgrade/ […]

  3. tangerine chequing account login commented on Nov 26

    … [Trackback]

    […] There you will find 75970 more Info on that Topic: thereformedbroker.com/2011/05/31/another-day-another-gdp-downgrade/ […]

  4. replica watches commented on Dec 21

    … [Trackback]

    […] Read More on to that Topic: thereformedbroker.com/2011/05/31/another-day-another-gdp-downgrade/ […]

  5. 토토사이트 commented on Dec 24

    … [Trackback]

    […] There you can find 74835 more Info to that Topic: thereformedbroker.com/2011/05/31/another-day-another-gdp-downgrade/ […]

  6. replica watches commented on Jan 19

    … [Trackback]

    […] There you can find 89531 more Info to that Topic: thereformedbroker.com/2011/05/31/another-day-another-gdp-downgrade/ […]

  7. AUSTRALIAN MONITOR AMIS26 manuals commented on Jan 20

    … [Trackback]

    […] Read More on on that Topic: thereformedbroker.com/2011/05/31/another-day-another-gdp-downgrade/ […]

  8. rolex replika commented on Jan 23

    … [Trackback]

    […] Find More here on that Topic: thereformedbroker.com/2011/05/31/another-day-another-gdp-downgrade/ […]