Amherst Pierpont Securities economists Stephen Stanley says excitement about US growth may be misplaced.
He writes that the “core of the private economy was merely so-so” in Q3 despite the 3.5% rise in GDP. “Trend growth is considerably lower than the FOMC and most private economists are willing to admit.”
He forecasts Q4 growth in the ‘ballpark’ of 2%.
Is there really an acceleration here?
US GDP with four-quarter moving avg
