First Quarter GDP Revised Higher To 0.8%, Misses Expectations

First Quarter GDP Revised Higher To 0.8%, Misses Expectations

Tyler Durden's picture

 

Following the terrible initial Q1 GDP print of 0.5% released one month ago, there was some hope that following some subsequent favorable inventory and trade data, the number would be revised substantially higher, with the whisper estimate rising as high as 1% or more, above the consensus estimate of 0.9%. Moments ago the BEA reported that in its first revision of Q1 growth, the US economy grew at only 0.8% annualized, a modest rebound from the original GDP report, however still missing consensus estimates.

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http://www.zerohedge.com/news/2016-05-27/first-quarter-gdp-revised-higher-08-misses-expectations