Pantheon Macroeconomics - We didn't believe the first estimate of Q1 GDP growth, 0.7%, and we won't believe today's second estimate, either. The data are riddled with distortions, most notably the long-standing problem of residual seasonality, which depressed the number by about one percentage point.

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26 May 2017 First Quarter Growth Set to be Revised up, but Data are Very Flawed

By Ian Shepherdson

We didn't believe the first estimate of Q1 GDP growth, 0.7%, and we won't believe today's second estimate, either. The data are riddled with distortions, most notably the long-standing problem of residual seasonality, which depressed the number by about one percentage point.

Posted: 25th May 2017 in 'U.S. Documents'

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