Bill Gross Thinks Today's Richmond Fed Report Was Really Bad

Following today’s horrific print from the Richmond Fed, PIMCO’s Bill Gross responded calling it disastrous.

What’s worse, he believes it means growth screeched to a halt.

Economists surveyed by Bloomberg currently estimate that the economy expanded at an annualized pace of 1.4 per cent during the second quarter, below the 1.9 per cent recorded during the first three months of 2012.

SEE ALSO: The World’s Biggest Companies Reveal What’s Happening In The Global Economy >

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at