We were all set to point out that Nouriel Roubini was wrong about Q4 GDP, but he wasn’t!
He said, if final sales in Q4 came in at Q3 pace, then GDP would be sub-zero.
Technically that’s correct. Had final sales come in at a paltry 0.9% like they did last quarter, we would have had negative GDP. But fortunately, final sales were ridiculously strong (up 7.1%!), and so we got the result we did.
So he was right because of the “if” though wrong by predicting bad things ahead for Q4.
Here was his tweet from last October.
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