Posted: Friday, May 29, 2015 10:45 AM ET
By: Julian Close
The second GDP estimate was released this morning for the first quarter of 2015, and the already anemic first estimate was revised sharply downward. The US economy did not grow 0.2% to start the year, but rather, contracted by 0.7%, according to the estimate.
The revision was significant, and, for the most part, unexpected, though analysts have been quick, (perhaps too quick) to pin the blame on the strong dollar. Traders are taking the news soberly this morning, which is to say stocks are generally ticking lower on the news.
At present... Read More