GS: Downgrading our Q2 and Q3 GDP forecasts
As previously suspected, the soft patch looks to be continuing, making things all the more vulnerable to a govt spending interruption in August. Following another week of weak economic data, we have cut our estimates for real GDP growth in the second and third quarter of 2011 to 1.5% and 2.5%, respectively, from 2% and 3.25. [...]
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