Current estimates for Q3 GDP are hovering around +3%.
So how wrong can they be? Well, the actual range on Bloomberg is from 1.2-4%
And here’s the April 30 release for Q1, with estimates ranging from +.5- 2.0. The latest revision has it at -2.1.
Just saying it’s not uncommon for estimates to be off by a full 3% or more!
Economic growth came to a standstill in the first quarter, largely due to adverse weather slowing production. First quarter GDP rose a meager 0.1 percent annualized after a 2.6 percent gain in the fourth quarter. The advance estimate fell well short of market expectations for a soft 1.1 percent rise.