Q3 GDP Forecast: Just Under 2%

From Merrill Lynch: Misses in construction spending and trade coupled with negative revisions to capex data sliced 0.3pp from 3Q GDP tracking this week, leaving us at 1.6% qoq saar. [Oct 11 estimate]emphasis added From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 2.0% for 2019:Q3 and 1.3% for 2019:Q4. […]


Corbyn gets the Green New Deal

Jeremy Corbyn did a shadow Queen’s speech yesterday. I was pleased that he had this to say: And Labour will ban fracking, roll out a street-by-street insulation programme and fit solar panels on 1.75 million roofs, double large-scale solar, remove barriers to onshore wind and ensure every single new house built is a zero carbon […]