US Q1 GDP Revisions Scream Stagflation

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by Tyler Durden
Wednesday, Jun 29, 2022 - 12:38 PM

The third look at Q1 GDP appears to confirm the worsening picture of the US economy that is now evident in sentiment surveys nationwide.

Growth was revised even lower to -1.6% Annualized QoQ (from -1.5%)...

Personal Consumption growth collapsed from +3.1% to just +1.8% - weakest since the COVID lockdown collapse...

And finally, inflation - GDP Price Index - rose from +8.1% to +8.2% - the highest since June 1981...

So - stagflation it is... not exactly what The Fed wants to see.