Weekly Economic Update March 30 - April 3, 2015
LAST WEEK
News & Commentary Weekly Highlights:
- Market Watch: Corporate Profits Fall for First Time Since 2008 as GDP Stays at 2.2% (Friday)
- The Hill: Senate Passes Budget After Marathon of Amendment Votes (Friday)
- Wall Street Journal: Dynamic Scoring: A Potential Super Model (Thursday)
- Real Clear Markets: Where Is the Federal Reserve Headed? (Monday)
- Wall Street Journal: The Global VAT Craze (Monday)
Top Economic Indicator Highlights:
Gross Domestic Product (Q4 2014, final estimate)
- Real GDP Quarterly Change (annual rate): 2.2%, Previous quarter: 5.0%, Recovery avg.: 2.3%
- Real Annual GDP Growth (Q4/Q4): 2.4%, Previous year: 3.1%, Recovery avg.: 2.3%
- Noteworthy: Overall GDP number remained unchanged from the second estimate to the final estimate; the advance estimate was 2.6%. Personal consumption expenditures were revised upward (especially in health care services), which offset downward revisions in net exports and the unexpected drop in corporate profits.
- Current Forecasts for Q1 2015: The Federal Reserve Bank of Atlanta lowered its first quarter 2015 forecast for annualized GDP growth to 0.2%, Morgan Stanley lowered to 0.9%, and Macroeconomic Advisers trimmed down their forecast to 1.2%.
THIS WEEK
Upcoming Economic Reports & Releases:
Major Indicators
- Personal Income and Spending (8:30am, Monday)
- Pending Home Sales Index (10am, Monday)
- S&P Case-Shiller Home Price Index (9am, Tuesday)
- Vehicle Sales (Wednesday)
- ISM Manufacturing Index (10am, Wednesday)
- Construction Spending (10am, Wednesday)
- International Trade (8:30am, Thursday)
- Factory Orders (10am, Thursday)
- Employment Situation (8:30am, Friday)
Chart of the Week:
