Deutsche Bank cuts U.S. growth estimate to 0%
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Last Update: 5:42 PM ET Nov 28, 2006
WASHINGTON (MarketWatch) -- The U.S. economy has stalled, Deutsche Bank economists said Tuesday in a note to clients. "In light of continued weakness in the economic data, we are cutting our fourth quarter real GDP growth forecast to zero from the 1.0% that we were originally predicting," wrote Joe LaVorgna and Carl Riccadonna. The economists made the forecast change following Tuesday's weak durable-goods report, coupled with tepid reports from retailers. "Consumer spending is not getting the boost from falling gasoline prices that many analysts anticipated," they wrote. Other economists aren't so glum: The average forecast for growth in the fourth quarter is 2.3% following a 1.6% gain in the third quarter.
Not knowing is Deutsche Bank a conservative forecaster or liberal? Either way that is scary. I guess that justifies the dollar getting creamed right now along with other fundamentals.