Q1 GDP was revised to a decline of 5.7%, an improvement from the initial
reading of -6.1% but a touch weaker than the forecast of -5.5%. A
downward revision to personal consumption to 1.5% from 2% was offset by
a slightly less than expected drop in gross private investment, exports
and a less of a drag from inventories. The government spending drop was
also revised slightly higher. Real final sales, which takes out the
influence of inventories, was left unchanged at -3.4%. With the economy
2/3 done with Q2 and the market looking towards an expected improvement
in 2nd half GDP, this revision should be looked at as old news.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.