Q1 GDP revision
By Peter Boockvar - May 29th, 2009, 8:43AM
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.
May 29th, 2009 at 5:15 pm
do realize that there are two levels at play here. The instinctive, animal level, where we want to punish those who have done us wrong, while those who have done us wrong have done it following their animal desires. There is also the rational level, of which to I am referring to above. Realistically, I know the beast in us will take over and this will endike it did in France in the 1790’s. I will, however, not be the one holding the sword
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June 2nd, 2009 at 6:26 am
[...] on the road, but wanted to catch up on last weeks GDP revision. The Big Picture with the details of the change from last month’s advance reading: Q1 GDP was revised to a [...]