First Quarter GDP Second Estimate 1.2 Percent: Mish vs. Consensus
mishtalk.com / Mike “Mish” Shedlock / May 26, 2017 10:20:42
This morning, the BEA revised its estimate of first-quarter GDP to 1.2% from 0.7%. The Econoday consensus estimate was 0.8%, in a range of 0.7% to 1.0%.
I posted this tweet ahead of the report.
The Econoday consensus estimate for 2nd GDP estimate is 0.8%. For a change, I am higher at 1.1% due to construction. I see no 2nd Q bounce.
— Mike Mish Shedlock (@MishGEA) May 26, 2017
I was higher than any Econoday economist’s estimate, yet they call me a pessimist.
Econoday Comments
First-quarter GDP gets a small but much-needed upgrade, now at a 1.2 percent rate of annualized growth which is nearly double the advance estimate. The gain is centered where it is best, in consumer spending where the rate did double to 0.6 percent. This is still slow but is an improvement with durable goods, at minus 1.4 percent, showing less contraction and services showing greater growth, at 0.8 percent.
The post First Quarter GDP Second Estimate 1.2 Percent: Mish vs. Consensus appeared first on Silver For The People.
Source: http://silveristhenew.com/2017/05/26/first-quarter-gdp-second-estimate-1-2-percent-mish-vs-consensus/
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