The US economy has suddenly been thrown into reverse as key GDP indicator flashes stunning negative forecast

[Cypress]

The US economy has suddenly been thrown into reverse as key GDP indicator flashes stunning negative forecast​

The Atlanta Fed’s GDP tracker now indicates that the economy is headed for a 1.5% contraction in the first quarter, after showing 2.3% growth just days earlier. That also marks a sharp reversal from the fourth quarter, when GDP expanded by 2.3%. Several economic indicators have been raising alarms as consumers and businesses brace for Trump tariffs and federal job cuts.

The US economy appeared to be on solid footing just a week and a half ago, but that has changed as several indicators are now raising red flags.

The latest and perhaps the most stunning one came on Friday, when the Atlanta Fed’s GDPNow tracker showed the first quarter is on track for a 1.5% contraction. Only nine days earlier on Feb. 19, it was pointing to growth of 2.3%.

That also marks a sharp reversal from the fourth quarter, when the US economy expanded by 2.3%. Such growth had previously reinforced views of so-called American exceptionalism, as the US appeared to stand out among other major global economies like China and Europe that were mired in slowdowns.

“Increased uncertainty surrounding trade, fiscal and regulatory policy is casting a shadow over the outlook,” Lydia Boussour, a senior economist at accounting and consulting firm EY, told the Associated Press.

Other data have also sounded alarms on the economy. Jobless claims were up last week as cuts by DOGE rippled through the labor market, pending home sales hit a record low, and consumer confidence indicators sank on rising fears of tariff-fueled inflation.

The US economy has suddenly been thrown into reverse as key GDP indicator flashes stunning negative forecast

The Atlanta Fed's GDP tracker now indicates the economy is headed for a 1.5% contraction in the first quarter, after showing 2.3% growth just days earlier.

fortune.com

 

[BartenderElite]

Get ready for 4 years of MAGA's telling us we just have to be patient - that Biden created such a mess that it takes time.

 

[Cypress]

Get ready for 4 years of MAGA's telling us we just have to be patient - that Biden created such a mess that it takes time.

Massive federal job cuts, political chaos and uncertainty over tariffs, collapsing consumer confidence are key drivers to the projected economic contraction according to the reporting.

 

[Cypress]

Worries Mount That Trump Agenda Is Testing Economy’s Resilience​

Worries are growing that uncertainty about President Trump’s agenda may be weighing on the economy. That’s after reports show consumer spending and confidence falling.

The S&P 500 has fallen 3.1% since Feb. 19, and the yield on 10-year Treasury notes has dropped below three-month Treasury bill rates.

Economists say Trump's rapid-fire policy changes are generating uncertainty that could weigh on businesses and household spending. Some have marked up the chances of a recession.

https://www.wsj.com/economy/trump-policy-agenda-economic-uncertainty-a2ec7ea3

 

[Earl]

The sky is falling, the sky is falling!

United States House Committee on Oversight and Accountability - (.gov)
https://oversight.house.gov › Press Releases




Feb 12, 2025 — And to those who would stand opposed to this effort, I would just point out, while it's understandable to find waste, fraud and abuse that has ...

Comer: DOGE Targets Billions in Government Waste ...​

United States House Committee on Oversight and Accountability - (.gov)
https://oversight.house.gov › Press Releases

 

[Walt]

I honestly did not think it would happen this quickly. I was worried that the American people would not start seeing problems until after the 2026 elections.

I can certainly see why Republicans are so scared.

 

[Earl]

I honestly did not think it would happen this quickly. I was worried that the American people would not start seeing problems until after the 2026 elections.

I can certainly see why Republicans are so scared.

Wrong, Walter.

You and the rest of the far left loons have been left at the station:

New Poll Shows Trump's Approval Rating After First Month In Office​

By Jason Hall

February 25, 2025

Photo: Getty Images
President Donald Trump has a 52% approval rating after his first month in office, according to the latest Harvard CAPS/Harris survey.

The poll showed that 33% of respondents strongly approved Trump's performance, while another 19% said they somewhat approved his first month in office. An estimated 43% disapproved, the majority of which claimed strong disapproval, while another 5% was undecided.

Trump's support varies significantly across party lines with about 9 in 10 Republicans approving and nearly 8 in 10 Democrats disapproving. Independents, however, were nearly split down the middle.

The White House shared an article claiming the poll showed "massive support for President Trump and his agenda," with the following data included:

• 81% support deporting criminal illegal immigrants.
• 76% support a “full-scale effort to find and eliminate fraud and waste in government.”
• 76% support closing the border with additional security and policies.
• 69% support keeping men out of women’s sports.
• 68% support government declaring there are only two genders.
• 65% support ending race-based hiring in government.
• 63% support “freezing and re-evaluating all foreign aid expenditures and the department that handled them.”
• 61% support reciprocal tariffs.
• 60% support direct U.S. negotiations with Russia to end the war in Ukraine.
• 59% support cutting government spending already approved by Congress.
• 57% support ending the ban on new offshore drilling.

 

[Walt]

Wrong, Walter.

Yes, I was wrong about trump destroying the economy in years. he is doing it in months.

There is already a little pushback. It is going to get worse, much worse.

 

[鬼百合]

The US economy has suddenly been thrown into reverse as key GDP indicator flashes stunning negative forecast​

The Atlanta Fed’s GDP tracker now indicates that the economy is headed for a 1.5% contraction in the first quarter, after showing 2.3% growth just days earlier. That also marks a sharp reversal from the fourth quarter, when GDP expanded by 2.3%. Several economic indicators have been raising alarms as consumers and businesses brace for Trump tariffs and federal job cuts.

The US economy appeared to be on solid footing just a week and a half ago, but that has changed as several indicators are now raising red flags.

The latest and perhaps the most stunning one came on Friday, when the Atlanta Fed’s GDPNow tracker showed the first quarter is on track for a 1.5% contraction. Only nine days earlier on Feb. 19, it was pointing to growth of 2.3%.

That also marks a sharp reversal from the fourth quarter, when the US economy expanded by 2.3%. Such growth had previously reinforced views of so-called American exceptionalism, as the US appeared to stand out among other major global economies like China and Europe that were mired in slowdowns.

“Increased uncertainty surrounding trade, fiscal and regulatory policy is casting a shadow over the outlook,” Lydia Boussour, a senior economist at accounting and consulting firm EY, told the Associated Press.

Other data have also sounded alarms on the economy. Jobless claims were up last week as cuts by DOGE rippled through the labor market, pending home sales hit a record low, and consumer confidence indicators sank on rising fears of tariff-fueled inflation.

The US economy has suddenly been thrown into reverse as key GDP indicator flashes stunning negative forecast

The Atlanta Fed's GDP tracker now indicates the economy is headed for a 1.5% contraction in the first quarter, after showing 2.3% growth just days earlier.

fortune.com

Great! Let it burn