The World Continued To Steadily March Down A Self-destructive Path Toward Oblivion
February 13th, 2014
Check Out How Banks Have Slashed GDP Estimates In The Past Few Days
Following the release of worse-than-expected retail sales data this morning, market economists are slashing tracking estimates for GDP growth in both the fourth quarter of 2013 and the first quarter of 2014.
“Alongside the weaker-than-expected print in January, downward revisions to core retail sales growth in December (to 0.1% month-over-month from 0.7%) and November (to 0.1% from 0.4%) suggest notably softer growth in Q4 consumption than initially estimated,” says Peter Newland, an economist at Barclays.
“This subtracted 0.4 percentage points from our tracking estimate, which now stands at 2.2%, a full percentage point below the first official release.
Read more: http://www.businessinsider.com/us-gdp-estimates-slashed-on-weak-data-2014-2#ixzz2tDyNu3E3
Retail Sales Slide Across The Board, Post Biggest Miss Since June 2012