GDP for the Quarter was 1.3%. The economists consensus estimate was 1.7%. Not a single economist surveyed estimated GDP that low. The economists’ estimates ranged from 1.4% to 2.0%.
Durable Goods Orders for August were -13.2%. The economists consensus estimate was -5.0%.
So much for the economy getting better. But don’t worry. The Fed is working on this.
Of course, unless they are going change their strategy and actually hire 30 million people it might take a while.
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury