GDP what's up with the munbers?
When the 2nd Quarter GDP number came out at 1.3% I wasn't overly surprised despite many expecting 1.8%. What surprised me was the downward revision of the 1st Quarter number from 1.9% to .4%. Now that is some serious revision. With that kind of a drop did we really turn negative 2nd Quarter when it is revised later? Now the market is generally forward looking so the last 2 quarters are history and this market is already looking into 4th quarter if not 1st Quarter next year. Earnings have been coming in overall positive, with some clunkers, so hoping the 2nd half turns out better than the first half.