May 29, 2019
The outlook for the U.S. economy is dimming with several institutions lowering their growth forecast after April economic reports were published. JPMorgan Chase cut its forecast for second-quarter economic growth to 1% from 2.25%
Oxford Economics lowered its estimate to 1.3% from 1.6% and Barclays forecast went down to 2% from 2.2%
April reports showed retail sales unexpectedly declined, factory output was below forecasts, business equipment orders declined, sales of previously owned homes fell and permits for single-family homes hit the lowest in almost two years.
April data is does not consider Trump ratcheted up his trade war with China this month by raising tariffs on some goods and threatening more levies.
Joining the podcast to discuss the economic outlook and how it could impact the NPL market is Daren Blomquist, Vice President of Market Economics at Auction.com.