Biden’s GDP Growth Rate has dropped to an alarming 1%. Biden’s economy is a self-made disaster.
The Atlanta Fed is now reporting an expected annual GDP growth rate of 1% based on today’s horrible jobs report:
According to the GDPNow model, real GDP growth is forecast at a seasonally adjusted annual rate of 3% in the third quarter 2021. 1.3 Percent On October 8, the October 5th report was unchanged. After this morning’s releases of the employment situation report by the US Bureau of Labor Statistics and the wholesale trade report from the US Census Bureau, an increase in the nowcast of third-quarter real gross private domestic investment growth from 10.5 percent to 10.7 percent was offset by a decrease in the nowcast of third-quarter real personal consumption expenditures growth from 1.1 percent to 1.0 percent.
Atlanta FED shows a decline in rates projections. These rates are disappearing from the pages.
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One analysis shows that Biden’s GDP decreased in June and has decreased from a projected annual rate of 6.7% to 2.2%. This is not a sign of recovery. It’s going the wrong way.