ECI

Fundamentals 7/29: Awful GDP Trend

GDP -2Q2011 GDP at +1.3% vs. 0.4% for 1Q2010 (revised down from 1.9%) -This 1st of three readings worse than low expectations -Second revision August 26 –Full report here. -In light of fiscal and monetary policy, this report is dismal -The heart of this report is this sentence: “Real personal consumption expenditures increased 0.1 percent

Fundamentals 7/29: Awful GDP Trend

GDP -2Q2011 GDP at +1.3% vs. 0.4% for 1Q2010 (revised down from 1.9%) -This 1st of three readings worse than low expectations -Second revision August 26 –Full report here. -In light of fiscal and monetary policy, this report is dismal -The heart of this report is this sentence: “Real personal consumption expenditures increased 0.1 percent