Photo: aa7ae via Flickr
Just out…GDP just missed expectations at 1.3%.
Analysts were looking for 1.8%.
Even worse, perhaps: Q1 GDP was revised from 1.9% all the way down to 0.4%, which is stunning.
Personal consumption, which was expected to grow by 0.8%, only grew by 0.1%.
Bad all around
Stocks diving now over 1% in the pre-market.
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A pretty big economic report is about to come out: The advance version of Q2 GDP is about to come out, and the average expectations is for a reading of 1.8% Q/Q annualized.
That number continues to drift lower, and there’s a loud whisper that the number could come in a lot worse.
The personal consumption component is expected to show 0.8% growth.
We’ll have it LIVE at 8:30.
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