This Week's Potential Data Highlight: Benchmark GDP Revisions

[cieldumort]

From Reuters:U.S. ECONOMY- If there is still any doubt that the U.S. economic recovery is losing steam, Friday's GDP number should put that to rest. A Reuters poll shows economists are expecting growth at a 2.5 percent annual rate for the second quarter, a slowdown from the 2.7 percent pace in the first quarter, and well below the 5.6 percent clip

Comments

[ytterbius]

So WHY are they doing that everybody is saying is wrong, and cutting back stimulus?

Do they know something that isn't public, or are they just bowing to political pressure from the right (and middle)?

It seems pretty clear that the US Economy isn't going anywhere for awhile, yet if the developing world keeps developing, then there's a chance that the US Economy won't entirely collapse. If the Developing world, particularly China, keeps growing the way it does, then the dollar will weaken and lead to inflation in the US, but the Global Economy in its entirety might hold up until the US (and European) Derivatives market comes into balance, at which point the West will be able to move again... just a thought...

[cieldumort]

It's not just that advanced economies are cutting back on stim... many are outright enacting austerity measures (=1937 if you ask me)