Deutsche Bank Geht Eeyore
reality
For the record: “WASHINGTON (MarketWatch) — The U.S. economy has stalled, Deutsche Bank economists said Tuesday in a note to clients. ‘In light of continued weakness in the economic data, we are cutting our fourth quarter real GDP growth forecast to zero from the 1.0% that we were originally predicting,’ wrote Joe LaVorgna and Carl Riccadonna. The economists made the forecast change following Tuesday’s weak durable-goods report, coupled with tepid reports from retailers. ‘Consumer spending is not getting the boost from falling gasoline prices that many analysts anticipated,’ they wrote. Other economists aren’t so glum: The average forecast for growth in the fourth quarter is 2.3% following a 1.6% gain in the third quarter.”
Nouriel Roubini has also predicted 0% growth in the fourth quarter.
Posted in Nouriel Roubini, The Economy |