US 4thQ GDP will struggle to report 1%

[Gary LeBlanc + 50]

Estimates for US GDP growth rate are slowly approaching 0% with each new estimate. The current GDP estimate is .5% issued by the Federal Reserve of Atlanta. This slowdown in the economy can be seen in the EIA Refinery Inputs declining week over week in a comparison to 2018 refinery run rates.

[nicotinemayonnaise 0]

It looks like the Atlanta fed again changed their estimates for 4th quarter GDP growth.

These estimates can change due to new economic reports.  Look at the latest Atlanta Fed GDP estimate at 2.0%. https://www.frbatlanta.org/cqer/research/gdpnow.aspx

Not sure if I would expect this estimate to stay the same next week either.

 

[Gary LeBlanc + 50]

Yes I noticed the wild swings in their estimates. As far as oil is concerned US demand for Nov 2019 is 4% lower than demand was in Nov 2018. That's substantial.