The Non-Consumer Economy Is Now In A Recession(Depression), Just As Spending Is Set For A “Sharp Pullback”
by Tyler Durden
ZeroHedge.com
Jul 30, 2016
While yesterday’s GDP report was an undisputed disappointment, printing at 1.2% or less than half the 2.5% expected following dramatic historical data revisions, an even more troubling finding emerged when looking at the annual growth rate of GDP. This is how Deutsche Bank’s Dominic Konstam summarized what we showed yesterday:
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