US Economy Grew Less Than Expected In Q2: Worst Economic Recovery Since WWII Revised Even Weaker
by Tyler Durden
ZeroHedge.com
07/30/2015
The much anticipated Q2 GDP number with prior revisions is out and, as expected, Atlanta Fed’s 2.4% estimate was once again nearly spot on, with the advance release coming in at 2.3%, below Wall Street’s consensus estimate of 2.5%. But more importantly, as part of the annual revision to prior GDP data, one which as we observed would include the infamous “double seasonal adjustments”, both Q1 2014 and 2015 GDP prints, the “winter” collapse, was revised well higher, with Q1 2014 increase from -2.1% to -0.9%, while last quarter’s final GDP which had printed at -0.2% is now 0.6%.
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