Joined Nov 11, 2007
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Off the Rails? Goldman Lowers Q2 GDP ‘tracking’ Estimate to 1.1 pct

The July Philadelphia Fed business activity index improved less than expected and remained “significantly negative,” pointing to a third month of contraction. Following news that June existing home sales were much weaker than forecast, Goldman Sachs economists lowered their Q2 GDP tracking estimate to 1.1 percent from 1.2 percent.

Read the article here.

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