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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread
VTI 335.99-1.1%Dec 12 4:00 PM EST
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To: MrGreenJeans who wrote (547)7/28/2000 9:56:23 AM
From: Wally Mastroly  Read Replies (1) of 10065
 
Bonds don't like today's 'mixed-message' from GDP data: Growth continuing? - w/o significant inflation?

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The 'Dismal' Summay:

First estimate of 2nd quarter GDP growth well above expectations. No slowdown in
estimated business spending, and inventory accumulations rebound.

Fed will be comforted by
slowdown in consumer spending, but investment is still robust.

Price deflator growth falls by nearly one full point, but still remains on a solid positive pace.

Consumer spending growth fell by half, as expected, as auto sales and other durable
purchasing weakened
Trade balance worsened further, by approximately the same pace as the previous three
quarters.
Housing completions growth was unchanged, as increases in remodeling spending offset the
slowdown in new units completed.

Revisions to previous GDP estimates were slight downward revision in Q1 and full point
upward in 99Q4. Impact is to boost the level from which 2000 growth is proceeding.

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The 'Dismal' Analysis:

dismalscience.com

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The 'Bloomberg' take on the GDP data:

bloomberg.com

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Some headlines:

08:33 Q2 GROSS DOMESTIC PRODUCT UP 5.2% VS. EXPECTED 3.6% PACE

08:33 Q2 DOMESTIC PURCHASES PRICE DEFLATOR UP 2.2% VS. EXPECTED 3.2% RISE

08:33 Q1 GDP REVISED DOWN TO 4.8% FROM 5.5%; Q4 REVISED UP TO 8.3% FROM 7.3%

08:33 PERSONAL SPENDING UP 3% IN Q2 AFTER 7.6% JUMP IN FIRST PERIOD

08:33 Q2 CORE DOMESTIC PURCHASES PRICE DEFLATOR UP MORE MODEST 1.8% VS. 2.8% RISE IN Q
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