Recent Economic Data: More Fiction Than Fact

by Dave Kranzler, Investment Research Dynamics: The advance estimate of Q3 GDP was released on Thursday, October 29th. The headline number was 33.1% (annualized rate) vs 31% expected and negative 31.4% for Q2. This was John Williams’ (Shadowstats.com) comment on the headline number: “ShadowStats contends that the headline BEA estimates understated the 2q2020 quarterly plunge […]