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Anticipating Friday's GDP report
Saturday, January 28, 2012
The consensus is that GDP grew at about a 3% annual pace in 2010Q1. I'm going to say 4.5%, based on everything Bob's been telling me, everything I read in the papers, and my sense that the consensus forecast is always too low in the early stages of a recovery (and too high in the early stages of a recession). These guys are less optimistic about Q1 but positively giddy about Q2.
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