The green shoots are looking like they need water. Foreclosures surged in April, tax revenues cratered, California is close to going toes up and retail sales did an about face. Well recovery doesn’t always proceed in a straight line, does it. Retail sales for April were down 0.4% from March and the figures for March […]
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Economists’ View Of The GDP Revisions
Posted by Tom Lindmark on February 27th, 2009
From the WSJ Real Time Economics blog, here are some comments on the revision to fourth quarter GDP: The surprise was a bigger than anticipated downward revision to consumption. Based on the retail sales figures, we had expected a marginal downward adjustment, but the revision was substantial, to a disastrous -4.3% from -3.5%. According to […]
