The Commerce Department released th GDP figures at 8:30 am on Friday, and they were stunningly worse than economists predicted, according to Reuters:
- The GDP growth figure for Q2 (April-June) was 1.3%, much lower than the expected 1.9%.
- The GDP growth figure for Q1 (January-March) was revised down to 0.4%, much lower than the previously reported 1.9%.
- The GDP growth figure for Q4 (Oct-Dec of last year) was revised down to 2.3%, lower than the previously reported 3.1%.
Economists In Shock Over GDP Report ; click for more..