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Here comes GDP …

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The Commerce Department will at 8:30 a.m. ET release its third estimate of first-quarter economic growth.

Gross domestic product, the value of everything produced in America, is expected to be unrevised at 1.2%, according to Bloomberg. That GDP print was revised up from the initial estimate of 0.7% growth, but there’s not been much new information to incorporate since the second estimate in May.

Still, some economists suspect that this underestimated the pace of growth in the US as the Commerce Department has done in every first quarter of this recovery. That’s because of residual seasonality, a quirk that distorts how read more >>>

Source:: BusinessInsider.Com

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