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US Economy To Grow Just 1.4% In 2016 After Atlanta Fed Slashes Q3 GDP To 1.9%, Half Its Original Estimate

There was much excitement when just two months ago, the Atlanta Fed revealed that its original Q3 GDP "nowcast" was showing an economy growing at a whopping 3.8% - a welcome reprieve for an economy which has barely been able to "rise above" a stall speed 1% GDP in the first half. Alas, since then things have deteriorated, and quite rapidly in recent days, because just one week after the Atlanta Fed slashed its GDP estimate to a series low of 2.
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