'Shocking' US GDP corresponds to .1 in 1Q and only .3 in 2Q 2011-BBC

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7/29/11, "US economy: GDP growth much weaker than thought," BBC

"'Shocking'

After the revision, the US growth figures now correspond to a quarterly increase

• of just 0.1% in the first three months of 2011,

• followed by a 0.3% rise in the second quarter....

In addition, growth for the fourth quarter of 2010 was revised down from 3.1% to 2.3%, indicating that the economy had already started slowing

• before the end of last year.

Tim Ghriskey, chief investment officer at Solaris Asset Management, said the figures

• were "shocking"."...

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Even more shocking is that 'senior economists' and pundits up and down the dial still have jobs. ed.

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