07-22-2023, 02:14 AM
An almost 4x adjustment to quarterly GDP projections seems like a lot.
https://www.cnbc.com/2023/07/21/bidenomics-spurred-stronger-gdp-growth-morgan-stanley.html
As a result of these unexpected swells, Morgan Stanley now projects 1.9% GDP growth for the first half of this year. That’s nearly four times higher than the bank’s previous forecast of 0.5%.
“The economy in the first half of the year is growing much stronger than we had anticipated, putting a more comfortable cushion under our long-held soft landing view,” Zentner wrote.
The analysts also doubled their original estimate for GDP growth in the fourth quarter, to 1.3% from 0.6%. Looking into next year, they raised their forecast for real GDP in 2024 by a tenth of a percent, to 1.4%.
“The narrative behind the numbers tells the story of industrial strength in the U.S,” Zentner wrote.
I have concerns though.
People used to work life long union factory jobs when it meant they could retire and have a pension after busting their ass for 30+ years (mid 50s retirement).
I work in a factory now. I worry about our ability to find the willing, competent, and motivated workers needed for success.
https://www.cnbc.com/2023/07/21/bidenomics-spurred-stronger-gdp-growth-morgan-stanley.html
As a result of these unexpected swells, Morgan Stanley now projects 1.9% GDP growth for the first half of this year. That’s nearly four times higher than the bank’s previous forecast of 0.5%.
“The economy in the first half of the year is growing much stronger than we had anticipated, putting a more comfortable cushion under our long-held soft landing view,” Zentner wrote.
The analysts also doubled their original estimate for GDP growth in the fourth quarter, to 1.3% from 0.6%. Looking into next year, they raised their forecast for real GDP in 2024 by a tenth of a percent, to 1.4%.
“The narrative behind the numbers tells the story of industrial strength in the U.S,” Zentner wrote.
I have concerns though.
People used to work life long union factory jobs when it meant they could retire and have a pension after busting their ass for 30+ years (mid 50s retirement).
I work in a factory now. I worry about our ability to find the willing, competent, and motivated workers needed for success.
