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Wednesday morning's First Estimate of 2nd Quarter GDP + revisions
Posted on 7/29/14 at 10:44 pm
Posted on 7/29/14 at 10:44 pm
At 8:30 AM (Eastern) on Wednesday the Bureau of Economic Analysis will release its first estimate of GDP growth for the second quarter of 2014.
Reviewing 20 or so financial prediction sources, this first look is expected to come in anywhere between +2.7% and +3.5%.
Just as notable as this first estimate release will be (and remember that the first estimate of the 1st quarter GDP ended up being off by 3.0% from the third and final estimate - +0.1% ending up as -2.9%) is the fact that the same report will also bring annual revisions to all prior quarters dating back to 1999, a scenario that could drastically change assessments of how the economy has actually been doing, particularly in the last 9 quarters. Significant revisions are very possible.
It will be interesting to see which makes the bigger news at the end of the day.
Reviewing 20 or so financial prediction sources, this first look is expected to come in anywhere between +2.7% and +3.5%.
Just as notable as this first estimate release will be (and remember that the first estimate of the 1st quarter GDP ended up being off by 3.0% from the third and final estimate - +0.1% ending up as -2.9%) is the fact that the same report will also bring annual revisions to all prior quarters dating back to 1999, a scenario that could drastically change assessments of how the economy has actually been doing, particularly in the last 9 quarters. Significant revisions are very possible.
It will be interesting to see which makes the bigger news at the end of the day.
4
Posted on 7/29/14 at 10:45 pm to NHTIGER
No idea what you just said, but I'll take your word for it. 
Posted on 7/29/14 at 10:47 pm to NHTIGER
Anything under 3% isn't very good.
Posted on 7/29/14 at 10:47 pm to NHTIGER
Squawk seemed overly optimistic today. Has me intrigued.
Posted on 7/29/14 at 10:48 pm to NHTIGER
quote:
It will be interesting to see which makes the bigger news at the end of the day.
Bush's fault
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