FOR IMMEDIATE RELEASE:
CEO of Sanford Rose Associates® – Rhonemus Group, Brian Rhonemus, Featured in GuruFocus, What to Look for in 3rd-Quarter GDP Report
By: David Goodloe
When the Bureau of Economic Analysis revised second-quarter GDP upward to 3.1% in late September, Reuters observed that “the momentum probably slowed in the third quarter as Hurricanes Harvey and Irma temporarily curbed activity.”
When the initial report of GDP for the third quarter is released Friday, the impact of the hurricanes on the economy will be the most closely watched factor. Some economists believe the GDP report will indicate the economy is rebounding rapidly and expect 3.0% growth or better in the third quarter, but a survey of economists suggests their expectation is for growth that comes up shy of that level.
“Our banking clients remain optimistic and are looking for incremental increases to GDP to support a continued optimistic economic outlook,” said Brian Rhonemus of Sanford Rose Associates-Rhonemus Group. “There is more attention being paid to regulatory relief and the potential impact on tax reform.”