The second estimate of first quarter GDP is set for release at the bottom of the hour.
Expectations are for the report to show the economy contracted 0.9% on an annualized basis to start 2015, according to estimates from Bloomberg.
The report is also expected to show personal consumption rose 2% in Q1, up from an initial reading of 1.9%.
The initial estimate of Q1 GDP showed the economy grew just 0.2% to start the year, well below then-consensus expectations for a 1% increase.
To start the year, Wall Street had been looking for Q1 GDP growth closer to 2%.
Wall Street economists, however, aren’t that worried about the first quarter and still expect a snapback in the second quarter.
We’ll be back with the live numbers when they hit.
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