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MA’s Monthly GDP Measure Rose 0.1% in March

Monthly GDP rose 0.1% in March following a 0.3% increase in February that was revised down from a previously reported increase of 0.7%.  The March figure reflects a moderate increase in domestic final sales that we estimate was mainly accounted for by PCE.  Outside of domestic final sales, a decline in net exports was partially offset by an increase in nonfarm inventory investment.  The data on monthly GDP through March are consistent with our latest estimate of 0.3% GDP growth in the first quarter.  Our latest tracking forecast of 3.8% GDP growth in the second quarter includes a 0.6% increase … Continue Reading

Macroeconomic Advisers’ Pre-FOMC Briefing

Macroeconomic Advisers’ Pre-FOMC Briefing Webinar Thursday, April 27th 10:30 AM – 11:05 AM EST Ken Matheny, senior economist at Macroeconomic Advisers will discuss MA’s views of the policy and economic backdrop for the meeting and our expectations for near-term Fed policy. To find out how to register for the webinar contact Tonya Cooksey by phone (314.721.4747) or email (cooksey@macroadvisers.com).

MA’s Joel Prakken Quoted by CNBC

MA’s Joel Prakken was quoted in the article, “This is what immigration means to the US economy in two charts” by Patti Domm with CNBC. (Excerpts shown below) Immigrants are responsible for nearly half the population growth of the United States, and by extension that also means they are a sizable part of the growth in the U.S. labor force. Statistics provided by the U.S. Census Bureau on assumptions about population growth and immigration are rolled into economists’ forecasts for GDP. The economy is expected to grow at about 2 percent, and “what’s behind that projection is the assumption of labor … Continue Reading