GDP was up 1.5% last quarter. That’s not so good. On the other hand, it’s better than expected. And first quarter GDP was revised upward.
Later today people will all start diving into the numbers and trying to build detailed narratives around the housing sector or the tradeable sector or the state of the household appliances market or whatnot. But you know what this really means? We now have numbers for all the political scientists to plug into their election models so they can tell us who’s going to win in November. Isn’t that exciting?