The Atlanta Fed lifted its Q4 GDP growth forecast this week to 2.3 percent buoyed by better than expected fixed investment — residential construction, in particular — consumer spending, and higher inventories.

Micron CEO, Sanjay Mehrotra, is optimistic the current quarter “will be the cyclical bottom for our financial performance.” Mehrotra said he expects “calendar 2020 industry-bit supply to be lower than industry-bit demand as a result of industry capex reductions, and consequently we expect the industry environment to improve through calendar 2020.” Micron produces DRAM and …

  Upshot:  The latest flash PMI indicates that business activity, both manufacturing and services, continues to accelerate albeit at lower levels seen at this time last year. Commenting on the flash PMI, Chris Williamson, Chief BusinessEconomist at IHS Markit, said: “The surveys bring welcome signs of the economy continuing to regain growth momentum as 2019 …