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Goldman Cuts Q2 GDP Estimate From 2.0% To 1.8%
| Tyler Durden
Posted on 06/08/2012 8:37:37 AM PDT by tcrlaf
Just as predicted earlier, the GDP downgrades begin.
We revised down our Q2 GDP tracking estimate by two tenths to +1.8% (quarter-over-quarter, annualized) from +2.0% previously. The downward revision primarily reflects weaker-than-expected real export growth in April. This was partly offset by stronger than expected wholesale inventories, which increased by 0.6% (month-over-month) in April.
TOPICS: Government; News/Current Events; Politics/Elections
KEYWORDS: economy; epicfail; failboat; obama
Now we know what the purpose of Obama's "NOT-MY-FAULT! BUSH'S FAULT! EUROPE'S FAULT!" dog-and-pony show was today....
Setting the stage for Obama to bail out his big banker owners again with your money, while promising FREE OBAMA MONEY, FROM HIS STASH! to his base voters.
posted on 06/08/2012 8:37:46 AM PDT
So is it three declining GDP quarters constitutes a recession..?
Thanks in advance.
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