First Quarter GDP Revision Disappoints!
Thursday, May 26, 2011. 9:25 a.m.
by Sy Harding
Streetsmartpost.com
A month ago the market was shocked when it was reported that GDP growth plunged from 3.2% in the December quarter to only 1.8% in the March quarter.
It was hoped that later revisions, after more data became available, would not be so bleak. The consensus forecast was that today’s scheduled revision would show economic growth in the 1st quarter was actually 2.2%.
But the report is that the original number was correct at only 1.8%.
With economic reports showing the economy has slowed significantly since the March quarter, it was a disappointing report.
The market continues to show resilience, continuing to look forward to whatever is the next economic report, hoping it will bring better news. But it’s just not happening.
Full article: http://www.streetsmartpost.com/
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