The latest economic numbers have boosted our nowcasts for Q3 GDP, which is scheduled for official release from the government on October 26. Meantime, it’s getting easier to anticipate some improvement over Q2’s weak 1.3% growth.
Daily Archives: October 17, 2012
U.S. Economic Trend Update | 10.17.12
The September data profile is nearly complete and the numbers provided so far reflect an economy that continues to grow. Of the 12 indicators published to date for The Capital Spectator Economic Trend Index (CS-ETI), 9 are trending positive. That’s a strong signal for assuming that recession risk was still low last month.
Housing Starts & New Permits Rise Sharply In September
The housing market reached what might be thought of as a new post-recession milestone last month, and for all the right reasons, the Census Bureau reports. The takeaway here: The idea that the economy is caught in a fatal swoon just took another blow with today’s numbers. What’s more, there’s reason to wonder if growth is set to pick up a bit for the economy overall, an outlook that’s supported by my latest nowcasts of Q3:2012 GDP (I’ll have an update later today). That’s also the message in the September profile for economic and financial data, as summarized by The Capital Spectator Economic Trend Index (I’ll update CS-ETI today as well). Today’s housing numbers certainly don’t offer any reason to think otherwise.