GDP Forecast For 4Q17 Unchanged: 3.3% -- December 19, 2017

GDP Now: Latest forecast: 3.3 percent — December 19, 2017

The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2017 is 3.3 percent on December 19, unchanged from December 14.

The forecast of fourth-quarter real GDP growth fell to 3.1 percent after Friday's industrial production and capacity utilization release from the Federal Reserve Board of Governors but rebounded back to 3.3 percent after this morning's new residential construction release from the U.S Census Bureau.

The forecast of fourth-quarter real residential investment growth increased from 4.8 percent to 8.2 percent after the construction release.

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The Apple Page

This is pretty interesting. I had planned to buy a pair of Apple AirPods this week as a gift for someone who has "all" the Apple gadgets. Now CNBC is reporting that Apple "has run out of AirPods."

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Poll

We'll close out this poll since the vote is today (?). In this poll we asked what would be "approved" first:

• the Keystone XL pipeline: 20%
• the Trump-GOP tax plan: 46%
• neither will be approved: 34%

Technically the Keystone XL was "approved" by Nebraska regulator a few weeks ago, but the regulators were quite disingenuous. They voted "yes," but required a new route which would require the entire process (at least for Nebraska) to start over. Whether one feels the Keystone XL was approved or not is in the eye of the beholder.

Whether the Trump-GOP tax plan is approved or not? We should know by the end of the week, perhaps as early as today.

Later, December 19, 2017: Nebraska won't allow request by TransCanada to keep original route. So where does that leave us? Back to square one. This pipeline won't be completed in my investing lifetime. From The Wall Street Journal:

The Keystone XL pipeline could face more delays after Nebraska regulators denied a request by TransCanada Corp. to refile its application for the project.

The Nebraska Public Service Commission said Tuesday that TransCanada couldn’t amend its application to formally request an alternative route for the pipeline through the state.

TransCanada had filed the paperwork to gird against future legal challenges. Opponents of the long-delayed project immediately claimed the commission’s decision as a victory.