GDP Revision Day! – Some Perspective and Estimates in Charts

GDP revision day! Estimates are for 1.1% for the 2nd quarter. Not what anyone would call gang-buster growth.

First a couple of historical charts. As can be seen, the growth for the U.S. is sloping lower.

Components of GDP and Trend

Dispersion of estimates

Summary of estimates

The Official FED estimates

(They have not been updating their assessment it seems.
Apparently they do not want to scare anyone.)