But when you see that as a 33% contraction, it leaps out and bites you right on the nose.
Especially when the numbers and fluffed and fudged anyway.
That will be the last GDP figures released before Nov election. OUCH!
Q1 estimates started at 2.9% then become .... 1.9% now.
“One thing we are not changing is our Q2 growth projection, which we still see as coming in around 2.5% with only modest downside risks. “
Except we are in Q2 now, its odd the may reports arent changing that. you’d think the opposite - change Q2 more than Q3. There is little reason for Q2 to be stronger than Q1, so since Q1 was 1.9% why wouldnt Q2 be the same?
So that puts you at 2% 2% 2% for rest of year.
So a drop from 1% to 0 would be three times as bad?