GDP Disaster: Final Q1 GDP Crashes To -2.9%, Lowest Since 2009, Far Below The Worst Expectations
Submitted by Tyler Durden on 06/25/2014 08:41 -0400

Remember when in January 2014, Q1 GDP was expected to rise 2.6%? Well, here comes the final Q1 GDP revision and it's a doozy: at -2.9%, far below the -1.8% expected and well below the -1.0% second revision, it is an absolute disaster, and is the worst print since Q1 2009.

And while a bad GDP print was largely expected, the driver wasn't: personal consumption expenditures somehow crashed from 3.1% to just 1.0%, far below the 2.4% expected, meaning that all hope of a consumer recovery is dead. Finally, as a reminder, US GDP has never fallen more than 1.5% except during or just before an NBER-defined recession since quarterly GDP records began in 1947. Good luck department of truth propaganda machine, because even assuming 3% growth every other quarter in 2014 means 2014 GDP will be 1.5% at best!

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More:
http://www.zerohedge.com/news/2014-06-25...st-expectations


HOWEVER NOT TO WORRY

Goldman Boosts Q2 GDP Forecast Due To Collapse In Q1 GDP
""...we think that Q1 GDP was an aberration, and is not representative of the strengthening underlying trend in US growth." There is nothing we can add to such brilliant weatherman insight as what Jan Hatzius from Goldman just unleashed on the unwitting muppets (all of whom can't wait for Goldman's second above-consensus GDP forecast to pan out... unlike the last time in 2010). In brief: Goldman just boosted their Q2 tracking GDP from 3.8% to 4.0% because Q1 GDP imploded. And scene.
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http://www.zerohedge.com/news/2014-06-25...collapse-q1-gdp
Goldman Boosts Q2 GDP Forecast Due To Collapse In Q1 GDP