Recession Receded Worst Than Previously Thought

Today’s Q2 GDP report came out and it was ugly. The economy grew by just 2.4% in real terms for the second three months of the year. That was below the Street’s forecast of 2.6%.
The Commerce Department also revised the GDP numbers going back to Q4 of 2006 and it turns out that the recession was even worse than they thought.
Check out the old numbers versus the new ones:

Nothing is as surprising as the past.

Posted by Eddy Elfenbein on July 30th, 2010 at 11:15 am

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.