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The article is paywalled, so I cannot see if it mentions the controversy over the effect of all the gold that was brought into the US in 1Q. https://www.fisher
by readthenotes1 2y ago
The article is paywalled, so I cannot see if it mentions the controversy over the effect of all the gold that was brought into the US in 1Q.
https://www.fisherinvestments.com/en-us/insights/market-commentary/gold-imports-tarnish-gdpnow https://www.fisherinvestments.com/en-us/insights/market-comm...
Edit: here's a breakdown. It looks like imports (gold and tariff front running) were big negatives.
https://www.zerohedge.com/economics/us-q1-gdp-contracts-record-imports-shrinking-govt-consumption-comes-stronger-expected https://www.zerohedge.com/economics/us-q1-gdp-contracts-reco...
- kasey_junk 2y agoGdpnow is a prediction model (that has an alternate model that accounts for the gold move). This is the actual calculation. The uncorrected gdpnow number was too pessimistic while the human consensus was too optimistic. The corrected gdpnow number was pretty close (though last week nosedived too much). The early April gdpnow corrected number was bang on.