October Surprise May Be The Economy
Published Friday, October 9, 2020, 8:45 p.m. EST
The computer model devised by the Atlanta Federal Reserve to predict economic growth in real time is forecasting the economy is growing 50% faster than what's expected by two independent surveys of economic experts. The latest consensus forecast of 10 leading economists polled monthly by Blue Chip Economics is for a growth of 24% in the fourth quarter of 2020 versus.
The GDPNow model is an algorithm created by the staff at the Atlanta Fed to predict the current quarter's final rate of growth in U.S. gross domestic product (GDP) in real-time, based on recent trends. So far, trends are good indeed.
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