Thursday, March 1, 2012


This morning, Goldman Sachs lowered their GDP estimates for the US in 2012, and this prediction continues a trend of spiraling production in the world's largest economy.

Spending and income data weaker than expected for January. We revised down our Q1 GDP tracking estimate to 2.0% from 2.3% previously

Given weaker-than-expected consumer spending results, we revised down our tracking estimate of Q1 GDP growth to 2.0% (annualized) from 2.3% previously. Construction spending data and vehicle sales reported later today could also affect our tracking estimate - Zerohedge

Given that oil and gasoline prices will further cut into consumer spending, which makes up nearly 70% of America's GDP numbers, the death rattle for the economy has begun, and it is RIP for the world's one time greatest GDP.


Post a Comment