GDP Revisions Expected To Trend Upwards
In his podcast addressing the markets today, Louis Navellier offered the following commentary. Upward GDP RevisionsThe Atlanta Fed is estimating second-quarter GDP growth at a 1.8% annual pace. However, in the wake of this week’s stronger-than-expected economic news, I am expecting upward GDP revisions. Another factor that will cause many economists to revise their second-quarter GDP growth higher is the fact that the Commerce Department announced on Wednesday that the trade deficit in May declined 6.1% to $91.1 billion as imports dropped 2.7% to $254 billion and exports declined 0.6% to $162....