Better Data Shrinks Q2 GDP to Under 1%
August 11, 2010 at 13:42 PM EDT
The Trade Deficit came in much worse than estimated when the GDP number of 2.4% annualized was released ten days ago: -$50B vs estimate of -$42B, an $8B drop from May’s -$42B deficit. This is the worst trade deficit since Oct 2008. It is likely that JP Morgan (JPM) will revise downward again, from 1.3% [...]
