That is what the markets seem to be doing while
waiting for the outcome of the Federal Reserve meeting on March 18. Everything
is on hold until its conclusion. Meanwhile, the economy appears to be going
nowhere fast. Growth in gross domestic product (GDP) – heralded as proof the
economy had finally achieved “escape velocity” when hitting a seasonally
adjusted and annualized rate of 5.0% in 3Q2014 – has slumped back to a more
typical post-Great Recession rate of 2.2% in 4Q2014. Moreover, the Atlanta Fed’s
“nowcast” of 1Q2015 GDP was a mere +0.3% as of March 17. Factors contributing
to that tepid growth rate include the following:
Click here to read
the rest of the March 2015 Macro Pulse recap.
The Macro
Pulse blog is a commentary about recent economic developments affecting the
forest products industry. The monthly Macro Pulse newsletter summarizes the previous 30 days of commentary available on
this website.
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