MA’s Ben Herzon Quoted by CNBC

MA’s Ben Herzon was quoted in the article, “Markets will be watching economic data and whether Amazon can break $1,000” by Patti Domm with CNBC. (Excerpts shown below). Economists on Thursday slashed second quarter GDP forecasts, based on April trade and inventories data. Many also revised down their forecast earlier this week because of weakness in new home and existing home sales data. But it’s the first quarter that will be in the headlines Friday. The second reading of first quarter GDP is expected to show improvement to 0.8 percent, from 0.7 percent, according to the Rapid Update. “It’s still … Continue Reading

MA’s Monthly GDP Measure Rose 0.1% in April

Monthly GDP rose 0.1% in April following a 0.1% increase in March, which was as originally reported.  The soft April increase reflected a solid increase in domestic final sales that was partially offset by a decline in net exports.  Nonfarm inventory investment rose only modestly.  The increase in domestic final sales was primarily accounted for by PCE.  The level of monthly GDP in April was 1.2% above the Q1 average at an annual rate.  Our current forecast of 3.2% Q2 GDP growth assumes a robust increase in May reflecting a sharp increase in nonfarm inventory investment.   Click here for … Continue Reading

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