As the mainstream blathers on about stock markets being attractively valued in an improving economy and consensus GDP growth estimates of 2.6% in Q4, reality does not corroborate. See Atlanta Fed GDPNow real GDP forecast for 2015:Q4. To wit:
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2015 is 1.9 percent on November 2, down from 2.5 percent on October 30. Following this morning’s Manufacturing ISM Report On Business, the forecast for fourth-quarter real consumer spending growth declined from 2.9 percent to 2.4 percent while the forecast for real equipment investment growth declined from 3.9 percent to 1.3 percent.