If Q3 Was Like Q2 Or Q1, Today's GDP Number Will Get Revised Down Big-Time

Just based on this chart from The White House, it looks like the deceleration is over.

chart

But remember, this is just the advance number.

A reader writes to remind us:

For 1st quarter, BLS reported: advance, revised, 2nd revised went like this: 3.2, 3, 2.7… (difference from advance to end: .5%, roughly 14trillion economy = many BILLIONs $$$
2nd quarter, BLS reported: 2.4, 1.6, 1.7
(difference from advanced estimate to end: .7%, roughly many billions more $$$
see for yourself: http://www.bea.gov/newsreleases/national/gdp/2010/gdp2q10_3rd.htm So the real question is: Where do we end this time?

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