Here comes GDP ...

The third and final estimate of first quarter Gross Domestic Product is set for release at the bottom of the hour.

Economists expect that the economy contracted -0.2%, according to Bloomberg.

The report is also forecast to show that personal consumption rose 1.9% in the first quarter, up from a second reading of 1.8%.

The second revision released by the Bureau of Economic Analysis last month pegged GDP at -0.7%. This final estimate is expected to show an improvement that matches the first estimate of -0.2%.

Wall Street had forecast 2% GDP in Q1, but that growth eluded the economy, and changed its story in just a few weeks.

The Atlanta Fed, which famously nailed the first quarter flop, sees the economy bouncing back in Q2 with 1.9% growth.

We’ll be back with full coverage of the data.

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