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3rd Quarter Advance GDP Estimate +1.5%; December Hike Odds Up to 46.5% The third quarter advance (initial) GDP estimate came in at 1.5% a bit under the Econoday Consensus of 1.7%, a bit over the Atlanta Fed GDPNow Forecast of 1.1%, and well below the Blue Chip consensus of 2.1%.
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Read the original post: Sales, Earning Estimates Contract First Time Since 2009; US Back in Recession?
Housing Starts Surprise to Upside Led by Multi-Family, Permits Surprise to Downside There’s something for bulls and bears alike to cheer about in today’s housing starts report. Starts were ever-so-slightly above the top Econoday Estimate but permits were well below the lowest economist’s estimate. Starts, driven by a spike in multi-family units, came in much stronger than expected in September, news offset however by a significant decline in permits.
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Industrial Production Declines Again, Down Eighth Time in Nine Months Industrial production declined for the eighth time in nine month, by 0.2%, pretty much in line with Econoday Consensus estimates.
See the article here: Mid-Atlantic Manufacturing Contraction Sets In; Philadelphia Region Contracts Second Month
Excerpt from: Rate Hike Odds For March 2016, Fall Below 50%; GDP Forecast Slips to 0.9%