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Tuesday, April 12, 2011

Here come the downgrades for Q1 GDP Growth: Part III

by Calculated Risk on 4/12/2011 02:02:00 PM

More downgrades today ... Note: Part I (my call) and Part II.

From MarketWatch: Q1 GDP estimates slashed post-trade data (ht jb)

Morgan Stanley slashed their estimate to 1.5% from 1.9% after what they called "a very weak report." RBS Securities cut their estimates to 1.7% from 2% ...
And from Catherine Rampell at Economix: G.D.P. Forecast for First Quarter Slides
Today, after an especially weak report on February’s trade deficit, the [Macroeconomic Advisers'] economists lowered their first quarter G.D.P. estimate to a sorry 1.5 percent annualized.
So Macroeconomic Advisers' forecast has gone from a "paltry" 2.3% to a "sorry" 1.5%!

The advance GDP report will be released on Thursday April 28th. Still time for more downgrades. What comes after "paltry" and "sorry"? Putrid?