Q1-2015 GDP Revised to “Less Bad” -0.2%; Q2 GDP in 2% Range

Real GDP was revised to make the first quarter’s decline much smaller, from -0.7% to -0.2%. Consumer spending was revised higher, as were net inventories. The inventory data have been out of balance for some time; theoretically, long run net inventories should be zero, as goods and services are created to meet the exact demands...

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