Chart of the Day: No Explaining Away The Latest Weakness!

While we’ve previously addressed the Q1ish anomaly in the GDP numbers, that vividly displays (white circles) in the Atlanta Fed’s GDP Nowcast graph below, per the red circles (all empty except the last [today]), a 0.31% reading at this time of year is something that we absolutely cannot explain away as some glitch in the seasonal adjustments:   

click to enlarge…

This, folks, is what we’re talking about, and it’s what’s showing up in our own macro index!


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