Teh Won will be here next week to explain the economy.
Good.
The Q1 real GDP rate was revised down again (third estimate) to 2.7% from the 2nd estimate of 3.0%.
Consumer spending was weaker in Q1 than originally estimated. PCE growth (personal consumption expenditures) was revised down to 3.0% in Q1 from the previous estimate of 3.5%.
Terrific.
The "Change in private inventories" was revised up to a contribution of 1.88% from the previous estimate of 1.65%. So inventory adjustment accounted for over two-thirds of the GDP growth in Q1 - and the inventory adjustment appears over
Even MORE terrific.
O Great Obambi! Please enlighten us!! Where Is Porkulus??
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