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Headlines will crow of the seasonally-adjusted ‘beat’ of expectations for the Dallas Fed survey (-13.6 vs -25.8 exp) but this is the 15th month in contraction (below 0) – something only seen in recession. Scratching below the surface we see employees, workweek, and capex all in contraction and forward expectations for new orders and employment tumbled.
Perhaps that reality is what drove one respondent to rage, ”anyone who says the economy is not in recession is peddling fiction.”
But according to some data on a graph, all we've been doing is flip flopping in and out of mini recessions sine 2009.
originally posted by: WeDemBoyz
Tyler Durden? LOL Seems legit. What is a federal reserve "respondent"? Is that someone who responded in the comments of a federal reserve blog? Why is the source unnamed? Why is the entire article a two page quote with no additional commentary?
Garbage "journalism"; gotta love it. *rolls eyes*
originally posted by: pl3bscheese
Incredible growth in Dallas. I've been viewing it and the recession didn't much change things. We've been expanding these last 15 months for sure.
Some economists now see first-quarter growth as negligible, and it could easily turn out to be negative.
Economists shaved already weak growth forecasts by a few more tenths Friday, after wholesale inventories fell 0.5 percent month over month in February, much more than the anticipated 0.1 percent decline. January was also revised down by 0.4 percent.
The closely watched Atlanta Fed GDPNow model now shows first-quarter growth tracking at 0.1 percent, compared to a 0.4 percent estimate earlier in the week. JPMorgan economists now forecast the economy only expanded by 0.2 percent in the first quarter, from 0.7 percent.
Barclays economists shaved tracking GDP growth for the first quarter to 0.3 percent from 0.4 percent.
originally posted by: BeefNoMeat
a reply to: onequestion
It's not my problem for you to understand. You were wrong and keep trying to qualify your incorrect stance with talking points. Look I was right, pointed out your were wrong, and your refusal to acknowledge any of it is for me to say, "me one, you zero". Go find someone else to talk false paradigms with. Throw in some baseless assertions while you're at.