First Quarter GDP Likely Overstated (And Don’t Expect a Huge 2nd Quarter Bounce)

by Mike ‘Mish’ Shedlock
Mish Talk

First quarter GDP came it at a very weak +0.5%.

Despite obvious weakness, that GDP estimate is likely overstated.

Moreover, hopes for a huge second quarter bounce are highly overrated.

Those are pretty bold statements so let’s consider the case.

Seasonal Adjustment Flashback

Dateline May 22, 2015: The Wall Street Journal reports First-Quarter Growth May Look Better After Upcoming Statistical Tweaks.

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