The much awaited U.S. GDP report was slightly better than expected, coming in at 1.5%. It was accompanied by several years of revisions, which basically revealed that 2009 was better than you thought and 2010 was worse. Take that to your therapist. Seriously, the 1.5% reading is poor, and the coincident indicators have been declining. There is clearly not enough growth to stoke inflation or enable meaningful employment gains.
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