by Bill McBride on 6/10/2015 11:18:00 AM
Wednesday, June 10, 2015
From Reuters: U.S. services data suggest upward revision to Q1 GDP
The Commerce Department's quarterly services survey ... showed consumption, including healthcare spending, increased at a faster clip than the government had assumed in its second estimate of gross domestic product published last month.Here is the Q1 Quarterly Services Press Release
JPMorgan said the data suggested first-quarter consumer spending could be bumped up ... together with revisions for construction spending, trade and wholesale inventory data, suggests first-quarter GDP could be revised to show it contracting at a 0.2 percent rate instead of the 0.7 percent pace of decline the government reported last month.
Posted by Bill McBride on 6/10/2015 11:18:00 AM