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HomeGDP Revisions Make 2nd Quarter Report Suspect
Posted by Larry Doyle on July 30th, 2010 9:14 AM |
2nd quarter 2010 GDP was just released and registered growth of +2.4% versus consensus expectations of +2.6%. Slightly weaker than expected, and we can all move on perhaps? Not so fast.
1st quarter GDP was revised from its supposed final reading of +2.7% to a newly revised 3.7%!! So the economy was that much stronger in the 1st quarter than previously thought that the 2.4% 2nd quarter reading is actually not all that bad. Again, not so fast. Let’s continue to peel the onion a little further. (more…)
