Drudge Retort: The Other Side of the News
Saturday, June 02, 2018

The growth rate of real gross domestic product (GDP) is a key indicator of economic activity, but the official estimate is released with a delay. Our GDPNow forecasting model provides a "nowcast" of the official estimate prior to its release by estimating GDP growth using a methodology similar to the one used by the U.S. Bureau of Economic Analysis.

Latest forecast: 4.8 percent -- June 1, 2018

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The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 4.8 percent on June 1, up from 4.7 percent on May 31. The nowcasts for second-quarter real consumer spending growth and second-quarter real private fixed investment growth increased from 3.4 percent and 4.6 percent, respectively, to 3.5 percent and 5.4 percent, respectively, after the employment report from the U.S. Bureau of Labor Statistics, the construction spending report from the U.S. Census Bureau, and the Manufacturing ISM Report On Business from the Institute for Supply Management were released this morning.

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This is really bad news for the DNC, Priorities USA is going to release their latest guidance on Monday but they have been banking on a slowdown on the GDP as the primaries and midterms come up. Pretty hard to focus on bad economic news when the GDP is rocking like it is right now.

#1 | Posted by Rightocenter at 2018-06-02 12:49 AM | Reply | Newsworthy 2

It's not that hard to deficit spend the economy into growth, Reagan proved that. That's all the "Reagan miracle" really was - debt financed growth. And that bill will come due.

#2 | Posted by HeliumRat at 2018-06-02 02:35 AM | Reply | Newsworthy 1

www.citylab.com

#3 | Posted by ichiro at 2018-06-02 05:08 AM | Reply

Not sure where this ends.

I have been hearing about the debt and deficit spending for years yet we have somehow been able to avoid the doom that logically one would expect.

Interestingly, Obama and the Dems using the same "levers" were not able to do what Trump and the Repubs have done.

The contrast seems to be, reduction in regulations and real tax breaks vs more regulation and a --------- attempt and reducing taxes.

#4 | Posted by sawdust at 2018-06-02 07:37 AM | Reply | Newsworthy 1

"Interestingly, Obama and the Dems using the same "levers" were not able to do what Trump and the Repubs have done."

Short memories. Obama inherited an economic catastrophe not seen since 1932 and handed off to Trump a growing economy which he is in the process of destroying. Their 1.5 trillion dollar tax cut will have ramifications far greater than any of you Trump supporters understand. We've seen this movie before back when Bush was president, do you stupidly think everything is changed now and that you can just take that much money away from the government with no consequences? That's just dumb.

#5 | Posted by danni at 2018-06-02 07:45 AM | Reply | Funny: 2

If the economy is strong it's not the time for artificial stimulus and tax cuts. Now is when we should pay down the debt.

#6 | Posted by visitor_ at 2018-06-02 09:05 AM | Reply | Newsworthy 4

Trump is the king of debt. He syphoned off cash from his businesses while piling on debt, from which they eventually collapsed into bankruptcy. This is his plan for the US.

#7 | Posted by bored at 2018-06-02 09:50 AM | Reply

Visitor, I applaud your post and I am surprised by it.

#8 | Posted by danni at 2018-06-02 09:53 AM | Reply

I don't know who flagged my post as funny but if you have an opinion different from mine express it or shut the hell up. You honestly think it's ok to enact a 1.5 trillion dollar tax cut for the rich, then you tell me how that makes sense. You can't. You won't even try because you know you are full of s**t.

#9 | Posted by danni at 2018-06-02 09:56 AM | Reply

I don't know who flagged my post as funny...

Comrade Avigdore.

#10 | Posted by REDIAL at 2018-06-02 10:04 AM | Reply

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I flagged your post as funny.
You must be joking, in an article about how well the economy is doing to make a statement like
' a growing economy which he is in the process of destroying'
Ha
Ha

#11 | Posted by Avigdore at 2018-06-02 10:05 AM | Reply | Newsworthy 2

#13

Trump's pumping sugar into a diabetic. The diabetic may feel fine until his first stroke.

#12 | Posted by Zed at 2018-06-02 12:03 PM | Reply

#11, That is.

#13 | Posted by Zed at 2018-06-02 12:04 PM | Reply

Didn't Reagen's tax cuts give a short term boost to the economy as well, before the bottom fell out?

#14 | Posted by jpw at 2018-06-02 12:06 PM | Reply | Newsworthy 1

These forcasters have a perfect of being wrong for the sake of their agenda, which is serving the 1 percent. They are consistently optimistic, pushing everyone to buy and spend relentlessly.

#15 | Posted by bayviking at 2018-06-02 12:37 PM | Reply

It's not that hard to deficit spend the economy into growth, Reagan proved that. That's all the "Reagan miracle" really was - debt financed growth. And that bill will come due.

#2 | POSTED BY HELIUMRAT AT 2018-06-02 02:35 AM | FLAG: You mean like the Fed 'printing'/pumping money out in an attempt to bolster the economy under the obama administration? [Between 2008 and 2015, the US Federal Reserve in total bought bonds worth more than $3.7 trillion.]

#16 | Posted by MSgt at 2018-06-02 12:41 PM | Reply | Newsworthy 2

Big jump from 2.3% in first qtr.

If the economy is strong it's not the time for artificial stimulus and tax cuts. Now is when we should pay down the debt.

#6 | POSTED BY VISITOR_ AT 2018-06-02 09:05 AM | REPLY | FLAG

How dare you not tow the 1% agenda line?!

The GOP is pumping up the economy to the point where inflation is going to set in bigly while at the same time pushing the debt to levels where during the next recession there will not be anything left to use to fight it.

Good job. You built that.

#17 | Posted by 726 at 2018-06-04 09:09 AM | Reply

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