GDP Growth in 2Q08: revision of forecasts |
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• PCE rebounded favored by tax rebates, but could decelerate significantly once the effect of the fiscal stimulus vanishes • Residential investment declined less than expected; however, the adjustment will continue in coming quarters • We have revised our forecast up for 2008 and down for 2009 Second quarter GDP growth came out above our expectations at 1.9%. On a year-over-year basis, growth was 1.8% from 2.5% in 1Q08. Growth in 2Q primarily reflected positive contributions from:
Filed under: Fundamental
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