I Have No Beef Here!

Hi folks … yes, I wrote this post. You’re safe to open it.

I wanted to quickly report on a couple of things before next Wednesday’s more comprehensive SHI10 report.

First, I decided to ‘re-run’ the reservation numbers for Philly today.  I wanted to see if reservation demand increased between Wednesday and today.  It did.  But only for ‘Del Frisco’s Double Eagle.’   The other 3 pricey eateries are still completely available.   Del Frisco’s is now booked from 6 pm to 8:30.   And the SHI for Philly is now a negative 23.

Second, the ‘advance’ reading for Q2 GDP growth was released this AM.   It was as hot as the grill at Ruth’s Chris:  Real GDP grew by a respectable 4.1% for the quarter.  But check this out:  ‘Current dollar’ (or nominal) GDP grew at the blistering rate of 7.4%!  In the quarter, our GDP grew by $361.5 billion, up to a total of $20.4 trillion.   Fantastic.  At this rate, we’re growing faster than China!  Hmmm….that’s interesting, right?

Here’s the BEA press release if you’re interested:

https://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm?utm_source=CPRE-+GDP+ESA+1+++7%2f27%2f2018&utm_medium=email&utm_campaign=news_release&utm_content=GDP+ESA+1+-+7%2f27%2f2018+8%3a44%3a35+AM

Have a great weekend!

– Terry Liebman