Q4 GDP estimate lowered to +3.4%

Macroeconomic Advisors (MA) has lowered their forecast for Q4 annualized real GDP growth to +3.4% from +3.6%, but is maintaining their Q1 forecast of +2.0%.

The bottom line is that they are essentially planting a stake in the ground and implying that there will not be a recession in Q1.

-- Jack Krupansky