Latest forecast: 2.9 percent — June 26, 2017.
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2017 is 2.9 percent on June 26, unchanged from June 16.
The forecasts of the contributions of real nonresidential equipment and inventory investment to second-quarter real GDP growth declined from 0.15 and 0.76 percentage points to 0.12 and 0.69 percentage points, respectively, after this morning's durable manufacturing report from the U.S. Census Bureau.
The forecast of second-quarter real residential investment growth increased from -0.3 percent to 2.5 percent after Friday's new-home sales release from the Census Bureau.
Great Future As An Astrophysicist
Despite getting more ink on herself and her nice clothes than on her paper, Sophia loves to use my best ink pen to "draw pictures" when we watch her older sister at water polo.
Yesterday was a typical day. Sophia was a bit bored so I gave her an ink pen and the back of a program to write on.
She went into her own world, scribbling away; I was not watching or paying attention to what she was doing.
All of a sudden, Sophia jumped up, huge smile on her face, and practically yelled, "I did it! I did it. I made an 'S.'"
We've been working on printing her name for quite some time; she recognizes the letters "S" and "O" but certainly has not been able to print or draw either letter.
And there it was. She had a full page of wavelengths of various frequencies. But there it was, in all the "background noise," there it was, an "S." Sophia was thrilled to point it out to me.
For posterity, it can be "validated" that Sophia, not quite three years old, wrote her first S on June 25, 2017, and was able to find it (again) in a background of a universe of what-appear-to-be wavelengths of light.