mishtalk.com / Mike “Mish” Shedlock / March 7, 2017
The GDPNow Model forecast for 1st quarter 2017 GDP plunged 0.5 percentage points to 1.3% following recent economic data.
Today’s dismal trade data was not a factor. Advance trade data on February 28 showed the trade deficit in goods jumped 7.6% to $69.2 billion, and that data was already factored into the model.
The reason for today’s plunge was light vehicle sales on March 2 and the factory orders data yesterday.
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