Skip to comments.Q1 GDP Cut To -0.6% At Goldman, -0.8% At JPMorgan
Posted on 05/06/2014 3:20:41 PM PDT by Perdogg
Update: JPM just jumped on the bandwagon and cut Q1 GDP to -0.8% from -0.4%. Don't worry: it snowed.
The US "recovery" is starting to feel more and more recessionary by the day. As we warned after we reported the trade deficit, it was only a matter of time before the Q1 GDP cuts came. And come they did, first from Barclays, and now from Goldman, which just doubled its GDP forecast loss for the past quarter from -0.3% to -0.6%.
(Excerpt) Read more at zerohedge.com ...
two negative quarters in a row = recession.
only one more and we will finally have the government admitting what we all already knew, the economy is in recession.
The Obama recession.
It appears that we are one calendar quarter away from the Obama 2014 Recession.
Or will this be Bush’s fault?
Who knew? Oh, that’s right, me.
I guess our GDP didn’t hear about our low unemployment rate?
All according to Plan now that we are full members of “The Club for Degrowth”
Economic growth is not Sustainable don’t cha know?
And even this is a LIE, Why is it that Every Economic and Financial Website,publication... REFUSES to tell the Truth about the Economy??
for the REAL ECONOMIC GROWTH RATE.
It just seems like we’re in some sort of ... “malaise”! :O
weren’t they just pumping the +0.1% numbers last week?
don’t they normally wait a month before ‘revising’? (ie: tell the truth)
the actual numbers must be horrific for them to start stepping out revisions so soon
What's surprising is not that gdp numbers are being fudged as we all knew that, but what's new here is that the numbers are being 'privatized' and the gov't is now being kicked out of the loop.
“what’s new here is that the numbers are being ‘privatized’ and the gov’t is now being kicked out of the loop. “
And that very well may be a good thing.